PPC LIMITED - Imposition of Provisional Anti-Dumping Duties on Pakistani Cement
PPC 201505150025A
Imposition of Provisional Anti-Dumping Duties on Pakistani Cement
PPC Ltd
(Incorporated in the Republic of South Africa)
(Company registration number: 1892/000667/06)
JSE Code: PPC
ISIN: ZAE 000170049
("PPC" or the "Company")
IMPOSITION OF PROVISIONAL ANTI-DUMPING DUTIES ON PAKISTANI CEMENT
PPC hereby informs shareholders that provisional anti-dumping duties of
between 14.29% and 77.15% have been imposed on Portland cement originating
or imported from Pakistan up to and including 13 November 2015.
This follows an investigation initiated by the International Trade
Administration Commission of South Africa (ITAC) after local cement
producers representing the Southern Africa Customs Union (SACU) industry
submitted an anti-dumping application. ITAC will issue a preliminary
report and invite comments from all interested parties in the
investigation, whereafter it will finalise its investigation and submit
its recommendation to the Minister of Trade and Industry to impose
permanent duties.
- There was more than a million tons of dumped cement imports from
Pakistan in 2014. This has been at the expense of SACU producers'
sales volumes.
- Cement is being dumped in SACU at between 14.29% and 77.15% less
than the ex-factory selling price in Pakistan. Pakistan cement
manufactures also enjoy structured tax benefits in their country.
- The dumping of Pakistani cement has caused significant injury to the
cement manufacturing industry in SACU, including job losses, under
utilisation of production capacity and reduced return on assets
employed.
Johannesburg
15 May 2015
Sponsor
Merrill Lynch South Africa (Pty) Limited
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