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Fuwei Films Receives Positive Outcome in Anti-Dumping Review
18/06/2015 10:28
BEIJING, May 31, 2013 /PRNewswire/ -- Fuwei Films (Holdings) Co., Ltd. (Nasdaq: FFHL) ("Fuwei Films" or the "Company"), a manufacturer and distributor of high-quality BOPET plastic films in China, today announced that the United States Court of International Trade, as a result of an administrative challenge brought by Fuwei Films, has found that Fuwei Films' shipments did not give rise to any anti-dumping duties for the period from November 6, 2008 to October 31, 2009.
On March 18, 2011, Fuwei Films filed an administrative lawsuit against the US Department of Commerce ("the Department") regarding the anti-dumping duty of 30.91% imposed as a result of the first round of anti-dumping administrative review. The Department, after recalculating the rate following administrative challenge, found that Fuwei Films' shipments resulted in a level of dumping that was "de minimis" which carries no associated anti-dumping duties. All of Fuwei Films' importers will receive a full refund of all of the monies deposited as anti-dumping duties for entries made during this period, plus interest.
Mr.XiaoanHe , Chairman and CEO of Fuwei Films, said, "This is exciting news for the growth of Fuwei Films. We have long maintained that we conduct our business relations according to the highest standards and this ruling supports our claim. We plan to continue to expand overseas markets as well as accelerate the R & D of the optical thick films to be produced on the third production line to remain competitive and increase the revenue of the Company."
On March 18, 2011, Fuwei Films filed an administrative lawsuit against the US Department of Commerce ("the Department") regarding the anti-dumping duty of 30.91% imposed as a result of the first round of anti-dumping administrative review. The Department, after recalculating the rate following administrative challenge, found that Fuwei Films' shipments resulted in a level of dumping that was "de minimis" which carries no associated anti-dumping duties. All of Fuwei Films' importers will receive a full refund of all of the monies deposited as anti-dumping duties for entries made during this period, plus interest.
Mr.XiaoanHe , Chairman and CEO of Fuwei Films, said, "This is exciting news for the growth of Fuwei Films. We have long maintained that we conduct our business relations according to the highest standards and this ruling supports our claim. We plan to continue to expand overseas markets as well as accelerate the R & D of the optical thick films to be produced on the third production line to remain competitive and increase the revenue of the Company."
May 31, 2013
Source: prnewswire.com
Source: prnewswire.com
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