Department of Commerce releases findings on nail dumping
The United States Department of Commerce announced Jan. 15 that some Chinese and United Arab Emirates (UAE) manufacturers and exporters sold certain nails in the United States at prices far below “fair value.”
Some Chinese nails were determined to be priced more than 40 percent below fair value; while some UAE nails were found to be priced at more than 4 percent below that value.
As a result of its findings, the Commerce Department will instruct U.S. Customs and Border Protection to collect a cash deposit or bond based on preliminary rates on the nails. The merchandise covered by the investigations are certain steel nails with a length up to 12 inches, with a variety of finishes, heads, shanks, points and sizes.
The largest dumping margins came from Chinese manufacturers. Significant nail-makers include Paslode Fasteners, with a 20.77 percent dumping margin, and Suzhou Xingya Nail, Senco-Xingya Metal Products and Wuxi Chengye Metal Products, which shared a 44.57 percent dumping margin. The “dumping margin” is defined as the percent below “fair value” at which the nails were sold.
The U.S. petitioners for the investigation were Mid Continent Nail; Davis Wire; Gerdau Ameristeel; Maze Nails; Treasure Coast Fasteners; and the United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial and Service Workers International Union.
“Price discrimination hurts American manufacturers,” said David Spooner, assistant secretary for U.S. Import Administration. “The administration is committed to aggressively enforcing America’s trade remedy laws in order to achieve strong and fair relationships with our trading partners.”
The Commerce Department said it will release a final determination on June 5.
Lowe’s: now in 50 states
Lowe’s officially opened the doors yesterday of its first Vermont store,in the city of Burlington, marking the retailer’s entry into all 50 U.S. states.
Spokeswoman Maureen Rich told the local newspaper Burlington Free Press that the retailer planned to hold off on a proper grand opening celebration until the spring, because of winter weather. “We’re very excited with this expansion. This is a milestone for Lowe’s,” she told the newspaper. Calls to Lowe’s for a follow-up comment were not immediately returned.
Preceding the formal opening, the store held a soft opening for commercial customers only. The Lowe’s store had been in the works for several years, having been delayed by stormwater runoff concerns and other permit issues, according to news reports.
The Burlington store will not remain the only Lowe’s store in the state for long. The retailer is seeking permits for further stores in Essex, Vt., and St. Albans Town, Vt.
Home Depot has a larger presence in Vermont — currently, the retailer has four locations in the state.
Mooresville, N.C.-based Lowe’s operates more than 1,450 stores in the United States and Canada.
Rust-Oleum acquires fire protection business
Rust-Oleum has announced that its subsidiary, Tor Coatings, has acquired certain assets of Bollom, a maker of fire retardant coatings and varnishes. Terms of the deal were not disclosed.
The Bollom business includes brand names Fireshield, Intusteel, Fireguard, Flamebar and Intuclear. The products are primarily sold in the United Kingdom.
“The Bollom fire protection brands are an excellent fit with our current business,” said Colin Carter, CEO of Tor Coatings. “In addition to expanding our technology offering to existing customers, these added brands will take Tor to new markets and applications.”
Vernon Hills, Ill.-based Rust-Oleum acquired Tor Coatings in March 2007. Rust-Oleum’s other brands include Painter’s Touch, American Accents, EpoxyShield and Varathane.