Cabot Corp. Reports Final Results of U.S. Department of Commerce Review of Antidumping Order on Steam Activated Carbon from China
By Business Wire News
By Business Wire News
Cabot Corporation (NYSE: CBT) reported that the U.S. Department of Commerce (DOC) announced the final margins calculated in connection with the seventh annual administrative review of the antidumping duty order on imports of steam activated carbon from the People’s Republic of China.
The final margins calculated by the DOC will help ensure fair competition for activated carbon products sold in the United States. Final antidumping margins in connection with this review vary depending on manufacturer. Out of the many steam-based activated carbon suppliers in China, all but one were assessed with tariffs ranging from $1.05 to $2.42 per kg for imports into the U.S. These margins apply to imports of Chinese activated carbon that entered the United States between April 1, 2013 and March 31, 2014, and will set the cash deposit rates for future imports. The cash deposit rates will remain in effect until the DOC announces the final results of the current, on-going eighth annual administrative review that will likely take place in November 2016.
“We are satisfied with the higher antidumping duties announced by the Commerce Department to offset the pricing practices of Chinese producers of steam activated carbon,” said Friedrich von Gottberg, president, Cabot Purification Solutions Segment. “The antidumping order is helping to establish a level playing field in the U.S. activated carbon market and allows our Cabot Norit Activated Carbon team to continue to provide our customers with high-quality products and an unmatched level of supply assurance from our three North American manufacturing facilities.”
The antidumping order went into effect on April 27, 2007, and was extended in early 2013 for an additional five years in connection with a sunset review proceeding. As a result, the order will remain in place until at least 2017, when a second sunset review proceeding will be undertaken.
ABOUT CABOT CORPORATION
Cabot Corporation (NYSE: CBT) is a global specialty chemicals and performance materials company, headquartered in Boston, Massachusetts. The company is a leading provider of rubber and specialty carbons, activated carbon, inkjet colorants, cesium formate drilling fluids, fumed silica, and aerogel. For more information on Cabot, please visit the company’s website at: http://www.cabotcorp.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in the press release regarding Cabot’s business that are not historical facts are forward looking statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward looking statements, see “Risk Factors” in the Company’s Annual Report on Form 10-K.
Vanessa Craigie, 617-342-6015