Tenaris to ‘vigorously’ fight anti-dumping claims
Tenaris plans to “vigorously” fight any assertion by its competitors or the US Department of Commerce that its imports of oil country tubular goods (OCTG) have harmed the United States, the company said in its third-quarter earnings report.
Commerce initiated in late October anti-dumping duty investigations into OCTG imports from Mexico, Argentina and Russia, as well as countervailing duty investigations on OCTG imports from Russia and South Korea.
An anti-dumping petition was filed on October 6 by US Steel Tubular, Borusan Mannesman Pipe, PTC Liberty Tubulars, Welded Tube USA and representatives of the United Steelworkers union.
“Tenaris, which imports OCTG from Argentina and Mexico to complement its production in the United States, believes that the petition is unjustified and intends to vigorously challenge any claim that its imports are causing or threatening injury to the US domestic OCTG industry,” Tenaris said in the earnings release. “At this time, Tenaris cannot predict the outcome of this matter or estimate the potential impact, if any, that the resolution of this matter may have on Tenaris’ business.”
The International Trade Commission is required to make a preliminary determination of injury, Tenaris said. The investigation will be terminated if the ITC determines there is no need to move forward. Otherwise, the investigations will proceed until the DOC and the ITC make final determinations.
“Over the past 15 years, Tenaris has realized substantial investments, more than any other company, in acquisitions and new production to build up a competitive OCTG production system in the United States,” the company said in the release. “We believe we are well placed to continue serving our customers even in case of an adverse resolution of the matter.”