Arch Chemicals Announces Final Antidumping Duty Rate for the Third Period of Review Consistent with Its Expectations
17 Dicembre 2009 - 1:11AM
Business Wire
Arch Chemicals, Inc. (NYSE: ARJ) announced that the U.S.
Department of Commerce (DOC) has determined the final antidumping
duty rate to be 20 percent for the third administrative review
period. This ruling relates to chlorinated isocyanurates (isos)
that the Company imported from its major Chinese supplier for the
period from June 1, 2007 through May 31, 2008. During this period,
the Company paid duty rates of 76 percent for part of the period
and 20 percent for the remainder of the period. This final
determination supercedes the DOC’s preliminary ruling published in
June of this year and is appealable to the Court of International
Trade.
Arch estimates that the net impact of this final duty will
result in a pre-tax benefit of approximately $1 million and this
benefit will be recognized in the fourth quarter of 2009. The
timing and amount of this final duty is consistent with the
Company’s previous guidance and expectations. In addition, the
Company will now begin paying cash deposits for imports of isos at
this final published rate of 20 percent.
About Arch
Headquartered in Norwalk, Connecticut (USA), Arch Chemicals,
Inc. is a global Biocides company with annual sales of
approximately $1.5 billion. Arch and its subsidiaries provide
innovative, chemistry-based and related solutions to selectively
destroy and control the growth of harmful microbes. The Company’s
concentration is in water treatment, hair and skin care products,
treated wood, preservation and protection applications such as for
paints and building products, and health and hygiene applications.
Arch Chemicals operates in two segments: Treatment Products and
Performance Products. Together with its subsidiaries, Arch has
approximately 3,000 employees and manufacturing and
customer-support facilities in North and South America, Europe,
Asia, Australia and Africa. For more information, visit the
Company’s Web site at http://www.archchemicals.com.
Except for historical information contained herein, the
information set forth in this Form 10-Q contains forward-looking
statements that are based on management's beliefs, certain
assumptions made by management and management's current
expectations, outlook, estimates and projections about the markets
and economy in which the Company and its various businesses
operate. Words such as “anticipates,” “believes,” “estimates,”
“expects,” “forecasts,” “intends,” “opines,” “plans,” “predicts,”
“projects,” “should,” “targets” and variations of such words and
similar expressions are intended to identify such forward-looking
statements. These statements are not guarantees of future
performance and involve certain risks, uncertainties and
assumptions (“Future Factors”), which are difficult to predict.
Therefore, actual outcomes and results may differ materially from
what is expected or forecasted in such forward-looking statements.
The Company undertakes no obligation to update publicly any
forward-looking statements, whether as a result of future events,
new information or otherwise. Future Factors which could cause
actual results to differ materially from those discussed include
but are not limited to: general economic and business and market
conditions; continued weakening in U.S., European and Asian
economies; increases in interest rates; changes in foreign
currencies against the U.S. dollar; customer acceptance of new
products; efficacy of new technology; changes in U.S. or foreign
laws and regulations; increased competitive and/or customer
pressure; loss of key customers; the Company's ability to maintain
chemical price increases; higher-than-expected raw material and
energy costs and availability for certain chemical product lines; a
change in the antidumping duties on certain products; increased
foreign competition in the calcium hypochlorite markets; inability
to obtain transportation for our chemicals; unfavorable court
decisions, including unfavorable decisions in appeals of
antidumping rulings, arbitration or jury decisions or tax matters;
the supply/demand balance for the Company's products, including the
impact of excess industry capacity; failure to achieve targeted
cost-reduction programs; capital expenditures in excess of those
scheduled; environmental costs in excess of those projected; the
occurrence of unexpected manufacturing interruptions/outages at
customer or Company plants; a decision by the Company not to start
up the hydrates manufacturing facility; unfavorable weather
conditions for swimming pool use; inability to expand sales in the
professional pool dealer market; the impact of global weather
changes; changes in the Company’s stock price; ability to obtain
financing at attractive rates; financial market disruptions that
impact our customers or suppliers; and gains or losses on
derivative instruments.
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