Canadian Solar Awaits Canada Anti-Dumping Decision

Canadian Solar Inc. CSIQ could get hurt by a ruling later this week that may uphold anti-dumping duties in Canada on photovoltaic imports from China.

The Guelph, Ontario-based company, which plans a yieldco spin-off later this year, conducts most of its manufacturing in China.

In January, the U.S. International Trade Commission imposed anti-dumping duties of about 30 percent on certain Canadian Solar products imported from China.

That ruling us getting appealed, with a decision expected by the end of 2015.

Canadian Solar revenue for the period ended March 31 fell about 10 percent sequentially, to $860.9 million.

Nearly half that recent quarterly revenue was derived from the Americas, although the company doesn't break out Canada sales.

Canadian Solar's shares are off more than 14 percent in the past three months, and said recently that oversupply, a weak economy in Europe and trade disputes had hurt demand.

In Canada, possible imposition of anti-dumping duties will be announced by July 3 by the Canadian International Trade Tribunal.

Further anti-dumping duties "may result in additional costs to our customers," which could hurt business, the company has warned.

An investigation by Canada Border Services Agency alleged in early June that Canadian Solar, as well as other Chinese solar panel makers, were benefiting from government subsidies in violation of World Trade Organization agreements, according to the Globe and Mail newspaper of Toronto.