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OHIO-BASED STEELMAKERS FILE ANTI-DUMPING PETITION

 OHIO-BASED STEELMAKERS FILE ANTI-DUMPING PETITION
 CANTON, Ohio, June 9 /PRNewswire/ -- Republic Engineered Steels,


Inc., and The Timken Company (NYSE: TKR) jointly filed a comprehensive anti-dumping petition today with the U.S. Department of Commerce and the U.S. International Trade Commission. On behalf of the industry, the two companies are seeking the imposition of anti-dumping duties on imports from Brazil of alloy and carbon hot-rolled bars and rods of special bar quality engineered steel.
 "We estimate that the price discrimination currently being practiced by Brazilian producers averages 40 percent below the Brazilian home market price, or the cost of manufacturing the product in Brazil," said Russell W. Maier, president and chief executive officer of Republic Engineered Steels, Inc. "Under international law, such pricing is illegal.
 "Through this petition," said Maier, "we are asking the International Trade Commission and Department of Commerce to maintain a fair marketplace by enforcing the existing trade laws." Price discrimination exists when a foreign producer sells for less in an export market than it does in its home market. When such discrimination harms a domestic industry, U.S. law and international agreements call for an imposed duty offsetting the price discrimination.
 "Our industry is facing economic pressures on all fronts -- contracting markets, over capacity, depressed prices, and so on," said Charles H. West, executive vice president -- steel, The Timken Company. "Dumped steel in our markets only serves to compound the pressure further and is severely harming U.S. steel producers' ability to compete.
 "The existing trade laws are clear," West said. "Injurious, unfair pricing of imported merchandise violates our trade laws. American producers of special bars are stepping forward to secure correction of Brazilian dumping before there is any further erosion of our country's steel manufacturing base.
 "The successful result of the petition would be to neutralize unfair pricing discrimination caused by dumped imported product into the U.S. market," West said. "This would be accomplished through the collection of import duties equal to the amount of the dumping margin. The result will be to restore a level playing field to the special quality engineered bar products industry in the U.S."
 This is the first time that Republic and The Timken Company have asked the U.S. government to correct dumping injury to their steel business. Their petition has the support of other bar producers, including Bethlehem Steel Co. (NYSE: BS), CSC Industries, Inc. and Inland Steel Bar Company.
 Previously, The Timken Company initiated anti-dumping duty investigations on imported tapered roller bearings, the other major product it manufactures. Those investigations resulted in positive action by the U.S. government to offset the unfair competition of import dumping.
 Republic Engineered Steels, an employee-owned company, is headquartered in Massillon, Ohio. Republic has plants in Canton and Massillon, Ohio; Beaver Falls, Pa.; Gary, Ind.; Willimantic, Conn., and Chicago. The Timken Company has three steel plants in Canton, Ohio and one in Wooster, Ohio.
 -0- 6/9/92
 /CONTACT: Harold Kelly of Republic Engineered Steels, 216-837-7045, or Mike Johnson of The Timken Company, 216-471-3910/
 (TKR BS) CO: The Timken Company; Republic Engineered Steels ST: Ohio IN: MNG SU:


KK -- CL004 -- 8206 06/09/92 08:29 EDT
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Publication:PR Newswire
Date:Jun 9, 1992
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