LONDON, Oct. 28, 2019 (GLOBE NEWSWIRE) -- Ferroglobe PLC (NASDAQ: GSM) today announced that its U.S. subsidiary Globe Specialty Metals, Inc. (“Globe”) has formed an ad hoc trade coalition in the United States with Mississippi Silicon LLC. The two U.S. merchant producers of silicon metal have agreed to form a coalition to address international trade regulatory issues related to unfair import competition which affect both companies.
Going forward, Globe and Mississippi Silicon have agreed that they will work together in opposing revocation of the current antidumping duty order on silicon metal from Russia in the full sunset review of the order that the U.S. International Trade Commission (ITC) recently determined to conduct.
See https://www.usitc.gov/trade_remedy/731_ad_701_cvd/investigations/2019/Silicon metal from Russia /Full Review/explanation_of_adq.pdf. The ITC is expected to issue the schedule for the sunset review soon.
The two companies are concerned about the serious adverse impact that unfairly traded imports have on the U.S. silicon metal market and the domestic silicon metal industry.
About Ferroglobe
Through its operating subsidiaries, Ferroglobe PLC is one of the world’s leading suppliers of silicon metal, silicon- and manganese- based specialty alloys and ferroalloys, serving a customer base across the globe in dynamic and fast-growing end markets, such as solar, automotive, consumer products, construction and energy. The Company is based in London. For more information, visit http://investor.ferroglobe.com.
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