Atlanta, Georgia, May 31, 2013 (GLOBE NEWSWIRE) -- ATLANTA, Georgia, USA - May 31, 2013 - The U.S. Department of Commerce (USDOC) has finalized its investigation on the alleged dumping of Chinese and Austrian xanthan gum into the United States. Based on evidence presented and an in-depth investigation, the USDOC has determined that dumping did in fact occur, and has calculated anti-dumping cash deposit rates.
The investigation demonstrates the need for significant anti-dumping duties to restore fair pricing in the United States xanthan gum market. The margin rates reflect the extent to which Chinese and Austrian xanthan gum producers priced below fair market value in the United States.
CP Kelco, the petitioner in the case, commends the decision. "We want to thank officials of the USDOC and their staff for their diligent work, as this announcement is positive news for the domestic xanthan gum industry," states E. Charles Bowman, Vice President of Marketing for CP Kelco. "CP Kelco increased capacity at our San Diego, California facility in the fourth quarter of 2012, and has current debottlenecking projects in place to further meet market demand for U.S. consumers. "
These rates will go into effect upon the issuance of a final order by the USDOC after the U.S. International Trade Commission holds its final vote on June 20, 2013.
ABOUT CP KELCO:
CP Kelco is a leading global manufacturer and marketer of specialty hydrocolloids, with facilities in Europe, North America, Asia and Latin America. Owned by J.M. Huber Corporation, CP Kelco's product lines include pectin, xanthan gum, carrageenan, cellulose gum, gellan gum, diutan gum, and other novel biopolymers, marketed under brand names including CEKOL®, FINNFIX®, GENU®, GENUGEL®, GENUVISCO®, GENULACTA®, KELTROL®, KELZAN®, KELCOGEL®,SLENDID®, SIMPLESSE®, and XANTURAL®. For more information, visit www.cpkelco.com or call/e-mail the above mentioned contact.
Source: CP Kelco