Amiantit's initiates anti-dumping investigation against imports from India
The complaint targets imports from the Republic of India of hollow pipes and tubes made of cast iron (ductile iron pipes).
In a statement to Tadawul, the company clarified that the subsidiary filed the complaint to protect the domestic industry producing ductile iron pipes with diameters ranging from 100 mm to 1000 mm, for technical specifications 9K and Class C to 40C.
The move comes in response to a sharp decline in the prices of such imports from India.
The company stated that this led to a reduction in its market share and production capacity, negatively impacting its business growth and diminishing its sales contribution within the Kingdom.
The company stated that while it is currently difficult to precisely determine the financial impact, the imposition of anti-dumping duties is expected to contribute to increased sales in the hollow pipes and tubes segment made of cast iron (ductile iron pipes).
It would also enhance the company's sales share among contractors and government entities in terms of local content, positively reflecting on the company's overall performance.
Amiantit highlighted its commitment to actively follow up and participate in all phases of the investigation, in coordination with the relevant authorities, with the aim of expediting the application of provisional anti-dumping duties.
The move aims to mitigate the harm facing ductile iron pipe manufacturers, leading up to the final imposition of duties on imports of this product from the Republic of India.
The company pointed out that the anti-dumping complaint was filed in cooperation with its legal representative, Abdullah Al-Dosari.
It further noted that there are no material legal, regulatory, or operational risks arising from the complaint and confirmed that any significant developments will be announced in due course.
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