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Commerce Preliminarily Finds Dumping Of Imports Of Welded Stainless Pressure Pipe From Malaysia, Thailand, And The Socialist Republic Of Vietnam

Stocks in this article: SYNL

SPARTANBURG, S.C., Jan. 3, 2014 (GLOBE NEWSWIRE) -- Synalloy Corporation (Nasdaq:SYNL), a holding company owning subsidiaries that engage in a number of diverse business activities including the production of stainless steel pipe, fiberglass and steel storage tanks, specialty chemicals and fabrication of stainless and carbon steel piping systems, announces that on December 31, 2013, the Department of Commerce (Commerce) announced its affirmative preliminary determinations in the antidumping duty (AD) investigations of imports of welded stainless pressure pipe from Malaysia, Thailand, and the Socialist Republic of Vietnam (Vietnam). In 2012, imports of welded stainless pressure pipe from Malaysia, Thailand, and Vietnam were valued at an estimated $18.6 million, $22.9 million, and $18 million, respectively.

Commerce determined that welded stainless pressure pipe from Malaysia, Thailand, and Vietnam has been sold in the United States at dumped margins. The table below contains the preliminary dumping margins determined by Commerce on December 31, 2013.

Country Exporter/Producer Dumping Margins
Malaysia Superinox International Sdn. Bhd./Superinox Pipe Industry Sdn. Bhd. 167.11%
  Kanzen Tetsu Sdn. Bhd 167.11%
  Pantech Stainless & Alloy Industries Sdn. Bhd. 167.11%
  All Others 22.70%
Vietnam Sonha International Corporation/Sonha International Corporation 17.72%
  Mejonson Industrial Vietnam Co., Ltd./ Mejonson Industrial Vietnam Co., Ltd. 17.72%
  All Others 53.91%
Thailand Thareus Co., Ltd./Ametai Co., Ltd. 7.16%
  Thai-German Products Co., Ltd. 10.92%
  All Others 7.22%

Commerce will instruct U.S. Customs and Border Protection to require cash deposits based on the preliminary rates calculated in these investigations from the date of the preliminary ruling forward. In the case of Malaysia, Commerce also determined that "critical circumstances" exist for the major respondents and has imposed these preliminary rates effective 90 days prior to the publication of the preliminary determination in the Federal Register.

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