Cenergy Holdings this week expressed optimism that its subsidiary, Greece-based Corinth Pipeworks, will not be substantially affected by US sanctions on a variety of EU products, following a relevant probe into the large diameter pipe sector by the US Department of Commerce.
In a relevant press release, Cenergy Holdings noted:
“In the case of Greece, DOC assigned a preliminary dumping rate of 22.51 percent for mandatory respondent Corinth Pipeworks S.A., Cenergy Holdings’ subsidiary, as well as to all other producers and exporters of large diameter welded pipe from Greece.
“Cenergy Holdings considers that there will be no material impact on its annual consolidated economic results from the aforementioned preliminary investigation since Greece is the only country accused for threat and not for current material injury and thus any duties which may be paid until the final determination will be refunded.
“Cenergy Holdings’ subsidiary, Corinth Pipeworks S.A., continues to cooperate with the USDOC authorities as well as with its US customers towards the final determination in the antidumping duty investigations that will take place in February 2019.”
