ANNOUNCEMENT FOR THE DEVELOPMENT OF ANTIDUMPING INVESTIGATION IN THE US
Athens, 09.10.2020
Announcement
The company under the trade name “ELVALHALCOR HELLENIC COPPER AND ALUMINIUM INDUSTRY S.A.” (hereinafter referred to as “ELVALHALCOR”) announces to the investors, pursuant to Article 17 paragraph 1 of Regulation (EU) 596/2014 of the European Parliament and the Council of 16th April 2014 and Article 2 paragraph 2 section (i) of the decision issued by the Board of Directors of the Capital Market Commission number 3/347/12.07.2015 and further to the press release dated March 12th 2020 (link), that on October 6th 2020 the US Department of Commerce (DoC) issued its preliminary determinations in the antidumping duty investigation concerning imports of common alloy aluminium sheet (CAAS) from 18 countries, including Greece as well as Bahrain, Brazil, Croatia, Egypt, Germany, India, Indonesia, Italy, Korea, Oman, Romania, Serbia, Slovenia, South Africa, Spain, Taiwan and Turkey.
In the case of Greece, the DoC assigned a preliminary dumping margin of 2.72% to imports from ELVALHALCOR as well as for all other exporters of CAAS from Greece.
ELVALHALCOR and its U.S. counsel are reviewing the basis for the DoC′s preliminary determination and will bring any errors or oversights to the attention of the DoC in accordance with the DοC′s instructions. Correction of such errors or oversights could result in a reduction of the final margin.
The next stages of the investigation include the final dumping determination by the DoC, which is due on February 19 2021, and the final injury determination by the US International Trade Commission (ITC), which is due on April 5 2021.
ELVALHALCOR will continue working tirelessly with the US authorities until they reach their final determination in the following months.
ELVALHALCOR reasonably expects a non-material impact on its economic results of 2021 from the aforementioned preliminary investigation result.
ELVALHALCOR has always been committed to conducting its business activities in accordance with fair trade principles and will continue to support its customers in the US market as one of the leading producers of flat rolled aluminium products, worldwide.