Regulatory News
Announcement
Brussels, 23 August 2018
Further to the press release dated 6 March 2018 , https://cenergyholdings.com/new/announcement-7/ Cenergy Holdings S.A. (Cenergy Holdings) announces that on August 21, 2018, the Department of Commerce (DOC) of United States of America, issued its affirmative preliminary determinations in the antidumping duty investigations of imports of large diameter welded pipe from Canada, China, Greece, India, Korea and Turkey.
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.
About Cenergy Holdings
Cenergy Holdings is a Belgian holding company listed on both Euronext Brussels and Athens Stock Exchange, investing in leading industrial companies, focusing on the growing global demand of energy transfer, renewables and data transmission. The Cenergy Holdings portfolio consists of Corinth Pipeworks and Hellenic Cables, companies positioned at the forefront of their respective high growth sectors. Corinth Pipeworks is a world leader in steel pipe manufacturing for the oil and gas sector and major producer of steel hollow sections for the construction sector. Cablel® Hellenic Cables is one of the largest cable producers in Europe, manufacturing power and telecom cables as well as submarine cables for the aforementioned sectors. For more information about our company, please visit our website at www.cenergyholdings.com.
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