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Algoma Steel Inc. -- Press Release.


Business Editors

SAULT STE. MARIE Sault Sainte Marie — pronounced "Soo Saint Marie" (IPA /su seɪnt məˈɹi/) — is the name of two cities on the Saint Marys River, which forms part of the boundary between the United States and Canada. , Ontario--(BUSINESS WIRE)--April 19, 2001

Algoma Steel(NASDAQ NASDAQ
 in full National Association of Securities Dealers Automated Quotations

U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on
:ALGSF) (TSE See Tokyo Stock Exchange.

TSE

1. See Tokyo Stock Exchange (TSE).

2. See Toronto Stock Exchange (TSE).
:ALG ALG antilymphocyte globulin.

ALG

antilymphocyte globulin.

ALG Antilymphocyte globulin, see there
.)

The Canada Customs and Revenue Agency Canada Customs and Revenue Agency was a department of the government of Canada. It split up into:
  • Canada Border Services Agency
  • Canada Revenue Agency
 (CCRA) announced today that they had determined that 99.6% of the imports of hot rolled steel sheet imports from Brazil, Bulgaria, China, India, Macedonia, New Zealand, Saudi Arabia, South Africa, South Korea, Chinese Taipei, Ukraine and Yugoslavia are being dumped at margins as high as 49.0%.

The CCRA also announced the termination of the investigation covering subject goods from Thailand on the basis that none of the product imported during the period of investigation was dumped. In addition they made a preliminary determination of countervailable subsidy on imports from India averaging approximately $63 per metric tonne.

The CCRA has imposed, effective today, provisional dumping duties ranging from 5.1% to 96.0 % of the export price and provisional countervail coun·ter·vail  
v. coun·ter·vailed, coun·ter·vail·ing, coun·ter·vails

v.tr.
1. To act against with equal force; counteract.

2. To compensate for; offset.

v.intr.
 duties ranging from $38 to $146 per metric tonne on subsidized imports from India.

The complaint, which resulted in this investigation, was filed by Algoma Steel Inc. and was supported by the other Canadian producers of hot rolled steel sheet.

Alexander Adam, President and CEO of Algoma Steel Inc., welcomed "the ruling as a step toward restoring a reasonable and stable pricing environment for steel," but added "that a long-term solution to the continuing onslaught of unfairly traded imports is crucial to the future of the Canadian steel industry."
COPYRIGHT 2001 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1CANA
Date:Apr 19, 2001
Words:233
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