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Alcoa Applauds Preliminary Injury Determination of International Trade Commission in ''6000 Series'' Aluminum Plate Investigation
PITTSBURGH--(BUSINESS WIRE)--Dec. 1, 2003--Alcoa Inc. (NYSE:AA)
applauded the International Trade Commission's 6-0 vote to continue
the investigation into dumping of certain aluminum plate imported from
South Africa. The vote was taken at a public meeting of the ITC this
morning in Washington, D.C.
"The vote means that the ITC has found a 'reasonable indication'
of injury, which has been our position in this case," said Robert S.
Wetherbee, President of Alcoa Mill Products, the Alcoa business unit
that manufactures aluminum alloy plate covered by this investigation.
"We look forward to the continuation of the case and to presenting the
facts necessary to secure an antidumping duty order against the
imported product from South Africa. We believe the facts in this case
clearly warrant such a finding."
This case covers only imports of 6000 series alloy plate, a
product used widely in American industry. The South African exporter
of this plate, Hulett Aluminium (Pty) Limited, has enormously expanded
its sales in the U.S. through low-priced sales that Alcoa believes
have been "dumped" in the United States.
The case will continue with an investigation into the alleged
dumping by the Department of Commerce. If the Commerce Department
finds dumping in its investigation, the ITC will have a final ITC
injury investigation in the autumn of 2004. If the dumping and injury
determinations are both affirmative, an antidumping duty order will be
entered, requiring imports of covered aluminum plate from South Africa
to pay antidumping duties equal to the difference between "normal
value" (i.e., the selling price for comparable products within South
Africa) and the prices charged to customers in the United States.