US Department of Commerce Issues Final Tariffs on Activated Carbon Imports from China
PITTSBURGH, PA – 11/20/2014
Calgon Carbon Corporation (NYSE: CCC) announced that the Department of Commerce (DOC) issued new tariffs on steam activated carbon from China ranging from $0.018 to $1.10 per lb. These rates were based upon a review of prices of Chinese activated carbon imported into the U.S. from April 1, 2012 to March 31, 2013. These announced tariffs may be modified to correct any errors made by the Commerce Department.
The average duty is $0.018 per lb. which replaces the average tariff rate of $0.07 that had been in effect. Calgon Carbon’s tariff with respect to product it imports into the U.S. from China will be $0.018. Revision of the tariff rates has two effects. First, these new rates become the cash deposit rate applied to future imports. Also, if a company deposited less than its new tariff rate on carbons imported during the period of review, it will be required to pay additional duties; conversely, if it deposited more than the new rate, it will receive a refund.
Randy Dearth, Calgon Carbon’s Chairman, President and Chief Executive Officer, commented, “We believe the tariffs will continue to encourage fair competition and fair prices that reflect demand and manufacturing costs for activated carbon products.”
Pure Water. Clean Air. Better World.
Calgon Carbon Corporation (NYSE:CCC) is a global leader in innovative solutions, high quality products and reliable services designed to protect human health and the environment from harmful contaminants in water, and air. As a leading manufacturer of activated carbon, with broad capabilities in ultraviolet light disinfection, the Company provides purification solutions for drinking water, wastewater, pollution abatement, and a variety of industrial and commercial manufacturing processes.
Calgon Carbon is the world’s largest producer of granular activated carbon and supplies more than 100 types of activated carbon products – in granular, powdered, pelletized and cloth form – for more than 700 distinct applications. Headquartered in Pittsburgh, Pennsylvania, Calgon Carbon Corporation employs approximately 1,100 people at more than 15 manufacturing, reactivation, and equipment fabrication facilities in the U.S., Asia, and in Europe, where Calgon Carbon is known as Chemviron Carbon. The company also has more than 27 sales and service centers throughout the world.
For more information about Calgon Carbon’s leading activated carbon and ultraviolet technology solutions for municipalities and industries, visit calgoncarbon.dev.
This news release contains historical information and forward-looking statements. Forward-looking statements typically contain words such as “expect,” “believe,” “estimate,” “anticipate,” or similar words indicating that future outcomes are uncertain. Statements looking forward in time, including statements regarding future growth and profitability, price increases, cost savings, broader product lines, enhanced competitive posture and acquisitions, are included in the company’s most recent Annual Report pursuant to the “safe harbor” provision of the Private Securities Litigation Reform Act of 1995. They involve known and unknown risks and uncertainties that may cause the company’s actual results in future periods to be materially different from any future performance suggested herein. Further, the company operates in an industry sector where securities values may be volatile and may be influenced by economic and other factors beyond the company’s control. Some of the factors that could affect future performance of the company are higher energy and raw material costs, costs of imports and related tariffs, labor relations, availability of capital and environmental requirements as they relate both to our operations and to our customers, changes in foreign currency exchange rates, borrowing restrictions, validity of patents and other intellectual property, and pension costs. In the context of the forward-looking information provided in this news release, please refer to the discussions of risk factors and other information detailed in, as well as the other information contained in the company’s most recent Annual Report.
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Gail A. Gerono
Vice President – Investor Relations
Direct Dial: 412-787-6795