10/19/2012 2:05:00 AM
NEWS BRIEFS
Bulten Fasteners China Wins AD Duty Exemption
Bulten Fasteners China has prevailed in an antidumping investigation before the European Commission, resulting in a complete removal of the additional duties that had previously struck the company.
A new EU Regulation of 10 October 2012 constitutes the latest stage of a high-profile antidumping matter initiated by the European Commission in 2009 concerning fasteners from China. After being subject to several legal procedures in EU and WTO courts, the original antidumping duties have now been reviewed.
By securing “Individual Treament” in the review, Bulten Fasteners China became the only company among a large number of applicants to be ruled fully exempt from the AD duties. Furthermore, Bulten Fasteners China gained additional procedural rights for future reviews.
Bulten Fasteners China may therefore, as one of only three Chinese companies, export fasteners into the European Union without paying additional duties, whereas the fasteners of all other Chinese exporters are struck by antidumping duties ranging from 23% to 75%.
In recent days the EU officially amended antidumping tariffs on certain steel fasteners imported from China. Regulation 924/2012 recalculates the tariff levels applied to imports of the cited products reducing the headline tariff level from 85% to 74.1%. Tariffs applied to around 90 exporters that cooperated with the original investigation will reduce from 77.5% to 54.1%.
Bulten Fasteners China, a subsidiary of the FinnvedenBulten Group, was represented by Mannheimer Swartling. The assignment has been handled by the firm’s offices in Brussels, Gothenburg and Hong Kong, with a team primarily composed of Jan Holmberg, Stefan Perván Lindeborg, Andreas Johansson, Lisa Staxäng and Rachel Dong. ©2012 GlobalFastenerNews.com
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