Shanghai Prime Machinery Suffers European Antidumping Tax

Resource from: CBCC Likes:2910

Feb 12,2009

The European Union will impose an antidumping tax of 69.9% on certain products made by Shanghai Biaowu High-Tensile Fasteners Co., Ltd., said Shanghai Prime Machinery Co., Ltd., the controller of the Chinese victim. In 2007, 43% of the parent company's revenue came from the fastener business. And the exports to Europe contributed 32% and 39% of its fastener revenue and net profit in the year, respectively. In the future, Shanghai Prime Machinery will enhance the production and sale of other fittings like bearings, cutting tools and blades. And the company believes that the diversified operation would help offset the impacts of the antidumping taxes, which are likely to be higher, it warns investors. Besides, it plans to increase the exports of the referred fasteners to the regions beyond Europe. On January 30, 2009, the shares of Shanghai Prime Machinery closed at HKD 0.84 apiece on the Stock Exchange of Hong Kong, compared to HKD 0.82 on the previous trading day.

()

【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.

Add to My Favorites

[Close the window]

Previous Dalian Jinniu Optimized AOD Technics to Increase Production Capacity and Reduce the Costs
Next SDS to Open New Manufacturing Base in Changchun

BRIEF INTRODUCTION

Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.

Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.

China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.