CV: Korea Stainless Steel Sheet and Strip in Coils
The International Trade Administration (ITA) announced that it is initiating a changed circumstances review of the countervailing (CV) duty order on stainless steel sheet and strip in coils from Korea at the request of Hyundai Steel Company (Hyundai).
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In its request, Hyundai claims that INI Steel Company (INI) changed its corporate name to Hyundai, effective March 10, 2006. Therefore, Hyundai maintains that it is entitled to INI's CV cash deposit rate for the CV duty order on subject merchandise from Korea.
According to the ITA, on May 12, 2006, it initiated an antidumping duty (AD) changed circumstances review and preliminarily determined that Hyundai is the successor-in-interest to INI and that merchandise from Hyundai should be excluded from the AD duty order on subject merchandise from Korea (A-580-834). (See ITT's Online Archives or 05/19/06 news, 06051950, for BP summary of the initiation and preliminary results of the AD duty changed circumstances review for Hyundai.)
The ITA states that in the context of changed circumstances reviews of an AD order based on a name change or a change in the company's ownership or structure, it relies on its "successor-in-interest" analysis to determine whether the successor remains essentially the same entity as the predecessor so that it is appropriate to impose the existing AD cash deposit rate of the predecessor on the successor.
However, the successor-in-interest test for AD purposes may not fully address whether it is appropriate to apply the CV duty cash deposit rate of a previously examined company to its claimed successor. As a result, the ITA's preliminary results in the AD changed circumstances review that Hyundai is the successor-in-interest to INI may not be instructive with respect to the CV duty order.
(Interested parties are invited to comment.)
(See ITA notice for more information including the scope of the order, etc.)
ITA Contact - Darla Brown (202) 482-0395
ITA Notice (FR Pub 06/30/06) available athttp://a257.g.akamaitech.net/7/257/2422/01jan20061800/edocket.access.gpo.gov/2006/pdf/E6-10379.pdf