WASHINGTON, June 30, 2020 /PRNewswire/ -- Globe
Specialty Metals, Inc., a subsidiary of Ferroglobe PLC
(NASDAQ:GSM) ("GSM"), and Mississippi Silicon LLC ("MS"),
collectively representing the majority of American silicon metal
production, today petitioned the U.S. Department of Commerce
("Commerce") and the U.S. International Trade
Commission ("ITC") to stop silicon metal producers in
Bosnia and Herzegovina,
Iceland, Malaysia and Kazakhstan from selling dumped and unfairly
subsidized silicon metal imports into the
United States.
The antidumping (AD) and countervailing duty (CVD) petitions
outline deliberate practices to sell silicon metal at less than
fair value and allege dumping margins ranging from 54% to 85% as
well as numerous unfair subsidies. The companies seek relief in the
form of special duties on all associated imports to offset unfair
pricing and unfair subsidies.
"Over the past three years, unfairly priced and subsidized
imports have harmed American producers," said Marco Levi, Chief Executive Officer of GSM's
parent, Ferroglobe PLC. "This is precisely what the ITC found in
May when it continued anti-dumping duties on silicon metal imports
from Russia."
Silicon metal is an important element added to various grades of
aluminum alloys used in performance applications such as automotive
components and aerospace products. Silicon metal is also a critical
raw material used in the production of silicone compounds used in
numerous products including sealants, adhesives, rubber gaskets,
caulking compounds, lubricants, food additives, coatings, polishes
and cosmetics, among others. In addition, silicon metal is the base
material in the production of polysilicon, a purified form of
silicon used in solar cells and semi-conductors.
"Our companies can compete with anyone in the world, as long as
we're all playing by the same rules," said Eddie Boardwine, Chief Operations Officer of MS.
"Fortunately, our trade laws are set up to support fair trade. On
behalf of our employees, customers, and colleagues, we look forward
to seeing those laws enforced and those who violate our laws held
accountable."
The next steps in the process will be the initiation of Commerce
antidumping and countervailing duty investigations by July 20,
2020, and a preliminary ITC determination by August 14,
2020.
About GSM and MS
Globe Specialty Metals, Inc. is a
wholly-owned U.S. subsidiary of Ferroglobe PLC, a
leading global producer of silicon metal, silicon-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 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/
Contact Elizabeth Heaton,
elizabeth@EAHstrategiesLLC.com, 202-445-9858
View original
content:http://www.prnewswire.com/news-releases/globe-specialty-metals-and-mississippi-silicon-file-unfair-trade-cases-against-bosnia-and-herzegovina-iceland-malaysia-and-kazakhstan-301085915.html
SOURCE Globe Specialty Metals / Mississippi Silicon