WASHINGTON, June 17, 2021 /PRNewswire/ -- Globe
Specialty Metals, Inc., a subsidiary of Ferroglobe PLC (NASDAQ:GSM)
("GSM"), and Mississippi Silicon LLC ("MS"), together representing
the majority of American silicon metal production, today reported
that the U.S. Department of Commerce ("Commerce") will impose final
duties of 12.27% on all silicon metal imports from Malaysia.
Today's decision closes out a set of
investigations requested by GSM and MS last June to stop
producers in four countries, including Malaysia, from selling dumped and unfairly
subsidized metal imports into the United
States – now, all have resulted in favorable final rulings.
On March 24, 2021, the U.S.
International Trade Commission (ITC) unanimously
determined that imports from Bosnia
and Herzegovina, Iceland,
and Kazakhstan are a cause of
material injury to the U.S. industry. On April 19, 2021, Commerce issued final antidumping
and countervailing duty orders imposing duties as high as 160% on
all imports of silicon metal of Bosnia
and Herzegovina, Iceland,
and Kazakhstan.
"Massive subsidies and other unfair trade practices have deeply
hurt U.S. producers and workers over time. Today's decision is a
welcome step in the right direction to get the market back on
track," said Marco Levi, Chief
Executive Officer of GSM's parent, Ferroglobe. "We appreciate the
diligent efforts by the Commerce Department to enforce America's
trade laws and give all players a chance to compete fairly."
"Today's announcement is good news for our industry, our
company, and our workers," said Eddie
Boardwine, Chief Operations Officer of MS. "The results of
this case and the companion cases should allow American producers
to earn a reasonable return, invest in our operations, and continue
to support jobs that pay well and provide important benefits to our
workers, their families, and our community."
Following today's announcement, the ITC will provide an
additional opportunity for comments before making its final
determination. The schedule for these activities has not been
released.
For more on the petitions, see the companies' press
release.
For more on Commerce's final determination in the
Bosnia and Herzegovina,
Iceland, and Kazakhstan investigations, see the agency's
fact sheet.
For more on the ITC's final determination, see the
Commission's press release.
About Globe Specialty Metals and Mississippi
Silicon
Globe Specialty Metals, Inc. is a wholly-owned U.S.
subsidiary of Ferroglobe PLC, one of the world's leading suppliers
of silicon metal, silicon- and manganese- based specialty alloys
and ferroalloys, serving a customer base across the globe in
dynamic and fast-growing end markets, such as solar, automotive,
consumer products, construction and energy. Through its
subsidiaries, GSM owns metallurgical manufacturing facilities and
other operations in Ohio,
West Virginia, New York, Alabama, Indiana, Florida and Kentucky.
Mississippi Silicon LLC is a partnership between Rima Holding
USA, Inc. and Clean Tech I LLC.
Rima Holding USA Inc. is the
majority owner of MS and also is associated with Rima Industrial
S/A, a leading ferroalloy and non-ferrous metals producer in
Brazil. Clean Tech I LLC is a
partnership composed of strategic investors and financial advisers.
MS's manufacturing operation is based in Burnsville, MS, and its silicon metal serves
customers throughout the United
States.
For more information, visit
http://investor.ferroglobe.com and https://www.missilicon.com/.
Globe and Mississippi Silicon are represented in these
proceedings by Adam H. Gordon, Esq.
of The Bristol Group PLLC.
Contact Elizabeth Heaton,
elizabeth@EAHstrategiesLLC.com, 202-445-9858.
View original
content:http://www.prnewswire.com/news-releases/us-department-of-commerce-imposes-final-duties-on-all-silicon-metal-imports-from-malaysia-us-producers-report-301315094.html
SOURCE Globe Specialty Metals / Mississippi Silicon