Calgon Carbon Corporation (NYSE: CCC) reported that the U.S. International Trade Commission (ITC) announced today that the antidumping order on imports of steam activated carbon imported into the U.S. from China will remain in effect for at least five years.
Importers of Chinese activated carbon will be required to make cash deposits of estimated antidumping tariffs when the carbon enters the U.S. Tariff rates will be determined annually by the U.S. Department of Commerce (DOC). At the end of the five-year period, the DOC and ITC will conduct a second “sunset” review to determine if the antidumping order should be continued.
The current average tariff rate which, was announced by the DOC in November of 2012, is $0.47 per pound and will remain in effect until November 2013. Calgon Carbon’s tariff on activated carbon imported into the U.S. from China is currently $0.00.
Randy Dearth, Calgon Carbon’s president and chief executive officer, commented, “We are very pleased with the ITC’s decision, and are optimistic that during the next five years the antidumping order on Chinese activated carbon will encourage fair market pricing that reflects demand and manufacturing costs for activated carbon produced in the U.S.”Calgon Carbon Corporation, headquartered in Pittsburgh, Pennsylvania, is a global leader in services and solutions for making water and air safer and cleaner. For more information about Calgon Carbon’s leading activated carbon and ultraviolet technology solutions for municipalities and industries, visit www.calgoncarbon.com. This news release contains historical information and forward-looking statements. Forward-looking statements typically contain words such as “expect,” “believe,” “estimate,” “anticipate,” or similar words indicating that future outcomes are uncertain. Statements looking forward in time, including statements regarding future growth and profitability, price increases, cost savings, broader product lines, enhanced competitive posture and acquisitions, are included in the company’s most recent Annual Report pursuant to the “safe harbor” provision of the Private Securities Litigation Reform Act of 1995. They involve known and unknown risks and uncertainties that may cause the company’s actual results in future periods to be materially different from any future performance suggested herein. Further, the company operates in an industry sector where securities values may be volatile and may be influenced by economic and other factors beyond the company’s control. Some of the factors that could affect future performance of the company are higher energy and raw material costs, costs of imports and related tariffs, labor relations, availability of capital and environmental requirements as they relate both to our operations and to our customers, changes in foreign currency exchange rates, borrowing restrictions, validity of patents and other intellectual property, and pension costs. In the context of the forward-looking information provided in this news release, please refer to the discussions of risk factors and other information detailed in, as well as the other information contained in the company’s most recent Annual Report.
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