A petition has been brought by Stoughton Trailers and allege that the export of such containers from China to the US constitutes dumping with a dumping margin of 84.07%, and the government subsidies received by manufacturers and exporters in China also exceed the de minimis level.
According to the US Department of Commerce, the import of such products from China to the US amounted to $184m in 2013 under US procedures, an initial ruling from investigations is expected by 9 June and if the US International Trade Commission determines that there has been material damage then the department will carry out relevant investigations, both companies said in virtually identical releases to the stock exchange.
They also hastened to add that the contributions from this sector are not high and will not result in material adverse impact. Singamas' sales of D53s to the US amounted to $69.7m comprising 5.4% of total revenue in 2013 while CIMC's revenue from this segment came up to RMB640.4m comprising 1.1% of total revenue.
Both companies said they have taken appropriate legal and necessary measures to respond to the investigations.
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