The US Dept. of Commerce admitted an error regarding "VSMPO-Avisma"

30.09.2010 — News

The US Dept. of Commerce has dropped antidumping duties on magnesium produced by "VSMPO-Avisma".

After a field audit of the corporation and VSMPO's subsidiary, Tirus, the American side admitted that Avisma did not sell magnesium at dumping prices from 2008-2009. As it turns out, the department used a flawed procedure to determine the value of the magnesium.

The corporation's press office told "RusBusinessNews" that "VSMPO-Avisma" will be reimbursed for all the fines that were deposited between April 1, 2008 and March 31, 2009. In addition, Avisma's future magnesium shipments to the US will not require a deposit to be made in the duty account, until the Commerce Dept. makes its determination for the next period.