US Department of Commerce imposes final duties on all imports of silicon metal from Malaysia, report by US producers says


WASHINGTON, June 17, 2021 / PRNewswire / – Globe Specialty Metals, Inc., a subsidiary of Ferroglobe PLC (NASDAQ: GSM) (“GSM”), and Mississippi Silicon LLC (“MS”), together accounting for the majority of US production of silicon metal, announced today that the US Department of Commerce (“Commerce”) will impose a final duty of 12.27% on all imports of silicon metal from Malaysia.

Today’s decision closes a series of investigations requested by GSM and MS last June to arrest producers in four countries, including Malaysia, to sell dumped and unfairly subsidized imports of metals United States – now, all have resulted in favorable final decisions. At March 24, 2021, the United States International Trade Commission (ITC) unanimously decided which matters to Bosnia herzegovina, Iceland, and Kazakhstan are a cause of material injury to the US industry. At April 19, 2021, Commerce issued final anti-dumping and countervailing duty orders imposing duties of up to 160% on all imports of silicon metal from Bosnia herzegovina, Iceland, and Kazakhstan.

“The massive subsidies and other unfair trade practices have deeply hurt American 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, CEO of GSM parent company, Ferroglobe. “We appreciate the Commerce Department’s diligent efforts to uphold US 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, director of operations of MS. “The results of this case and related cases should allow American producers to earn a reasonable return, invest in our operations and continue to support jobs that pay well and provide significant benefits to our workers, their families and our community. “

Following today’s announcement, ITC will provide an additional opportunity to comment before making its final decision. The timetable for these activities has not been communicated.

To learn more about the petitions, see the companies press release.

For more information on the Department’s final determination in the Bosnia herzegovina, Iceland, and Kazakhstan inquiries, see the agency fact sheet.

For more on the ITC’s final decision, see the Commission’s report 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 manganese-based specialty alloys and ferroalloys, serving customers in worldwide growing end markets, such as solar, automotive, consumer products, construction and energy. Through its subsidiaries, GSM has metallurgical manufacturing facilities and other activities in Ohio, West Virginia, new York, Alabama, Indiana, Florida and Kentucky.

Mississippi Silicon LLC is a partnership between Rima Holding United States, Inc. and Clean Tech I LLC. Rima Holding United States Inc. is the majority owner of MS and is also associated with Rima Industrial S / A, one of the leading producers of ferroalloys and non-ferrous metals in Brazil. Clean Tech I LLC is a partnership of strategic investors and financial advisors. The manufacturing activity of MS is based at Burnsville, MS, and its silicon metal serves customers everywhere United States.

For more information visit http://investor.ferroglobe.com and https://www.missilicon.com/.

Globe and Mississippi Silicon are represented in this proceeding by Adam H. Gordon, Esq. of The Bristol SARL group.

Contact Elizabeth heaton, [email protected], 202-445-9858.

SOURCE Globe Specialty Metals / Mississippi Silicium

Related links

http://investor.ferroglobe.com


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