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U.S. RAIL MAKERS FILE DUMPING CASE AGAINST JAPAN, THE UNITED KINGDOM, LUXEMBOURG

 U.S. RAIL MAKERS FILE DUMPING CASE AGAINST
 JAPAN, THE UNITED KINGDOM, LUXEMBOURG
 WASHINGTON, May 1 /PRNewswire/ -- Bethlehem Steel Corporation (NYSE: BS) and CF&I Steel Corporation (OTC Bulletin Board: CFIPQ) , the sole remaining domestic manufacturers of standard and premium railroad rail, today filed an anti-dumping petition against foreign producers in Japan, the United Kingdom and Luxembourg.
 The petition states that during the past two years, while covered by the steel VRAs, imports of rail from Japan, the United Kingdom and Luxembourg were dumped by margins ranging up to 80 percent below their home market prices. Imports accounted for one-quarter of all new steel rails purchased in the United States in 1990 and 1991.
 With the termination of VRAs on April 1, market penetration by dumped imports threatens to surge even higher. Persistent price pressure by dumped imports has deprived Bethlehem and CF&I of the necessary cash flow to permit modernization and investment, according to the petition.
 Dumped imports from Japan, the United Kingdom and Luxembourg climbed from 12 percent to 25 percent of U.S. consumption in the past three years. The petition further asserts that, together, Bethlehem's Rail Products and Pipe Division in Steelton, Pa., and CF&I's Pueblo, Colo., facility have suffered declines in total shipments, total production, and capacity utilization, and persistent losses on rail operations.
 The petition also states that led by imports of heat treated (premium) rail, which is the growth segment of the U.S. rail market, imports undercut Bethlehem and CF&I prices and depress domestic price levels.
 The U.S. Department of Commerce must decide by May 21, 1992, whether to initiate a dumping investigation. Thereafter, the International Trade Commission has until June 16 to make a preliminary determination as to whether the imported rails are injuring the two domestic mills.
 Bethlehem also said: "We will continue to take all appropriate actions to deal with unfair steel trade including the filing of further cases in addition to the bar case we recently filed with Inland Steel. It is essential that the administration vigorously enforces our trade laws and holds firm to its commitment to preserve effective U.S. trade laws."
 /delval/
 -0- 5/1/92
 /CONTACT: W.J. Gignac of Bethlehem Steel, 215-694-7536, or M.W. Coriden of CF&I Steel, 719-561-7103/
 (BS CFIP) CO: Bethlehem Steel Corporation; CF&I Steel Corporation ST: Pennsylvania, Colorado IN: MNG SU:


MP-KA -- PH016 -- 5418 05/01/92 10:59 EDT
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Publication:PR Newswire
Date:May 1, 1992
Words:407
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