| Companies |
 |
PPG pleased with International Trade Commission ruling on automotive replacement glass windshields from China
|
Officials with PPG Industries (NYSE:PPG) said they are pleased with today's 3-2 vote by the U.S. International Trade Commission that affirms imports of automotive replacement glass windshields from China are causing material injury to the domestic industry.
PPG and fellow domestic producers Safelite Glass Corp. and Viracon/Curvlite filed an antidumping petition Feb. 28, 2001.
"The imposition of antidumping duties on these imports will serve to restore a competitive market balance in the U.S.," said David Sharick, PPG vice president for automotive replacement glass. "Today's decision confirms what we have said for more than a year -- that unfairly priced replacement windshields from China are causing harm to the U.S. automotive replacement glass windshield industry. The commission's final staff report showed that imports from China had increased by 275 percent between 1998 and 2000 and an additional 38 percent in the first nine months of 2001 compared to the same period in 2000. During this period, the domestic industry saw net sales decline by more than $58 million and operating income levels decline by more than $20 million."
After the commission sends its decision and the reasons for its determination to the U.S. Department of Commerce, which is expected to occur March 28, the Department of Commerce will then issue an antidumping duty order to the U.S. Customs Service a week later.
Pittsburgh-based PPG is a global supplier of coatings, glass, fiber glass and chemicals with 120 manufacturing facilities and equity affiliates in 24 countries. Sales in 2001 were US$8.2 billion.
|
March 25th, 2002
Source: PPG |
Add a Comment
|
You have to be registered in order to add your comment.
If you already have an account, please sign-in to comment.
|
|
|
|
