TriMas Corporation's Norris Cylinder Company Receives Favorable Antidumping Decision
TriMas Corporation (NASDAQ: TRS) announced today that the U.S. International Trade Commission has made a unanimous final determination that TriMas' Norris Cylinder business has been materially injured by imports of high pressure steel cylinders that are being subsidized by the Government of China as well as being dumped into the U.S. market by producers in China.
The result of this decision is an imposition of antidumping and countervailing duties on the subject imports. These duties are expected to create a fairer competitive environment in the U.S. and enable Norris Cylinder to continue to provide its customers with high quality, high pressure steel cylinders, as well as support investment in the production of high pressure steel cylinders in the United States and the U.S. jobs created by that production. Norris Cylinder is the last remaining producer of high pressure steel cylinders in the United States.
Norris Cylinder is one of the world's leading suppliers of high-pressure and low-pressure gas cylinders for storage, transportation and dispensing of compressed industrial gases. Norris Cylinder supplies its products to major industrial gas producers, welding equipment distributors and equipment manufacturers.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.