Банкеръ Weekly

Briefs

KREMIKOVTZY ENSURED AGAINST EU SANCTIONS

Kremikovtzy was adopted as an associated memebr to the European Ferrows Metallurgy Confederation (EUROFER). Membership to the organization which offers anti-dumping duties for steel importers to the EU, will back the company in case of eventual legal proceedings against it. In the future, if EUROFER decides on certain measures against Kremikovtzy, the information will be supplied directly by the plant, and not by other sources. Membership duties for the metallurgy giant include only correct quarterly information regarding production, export to EC and prices, as well as regular payment of membership fee. The company is entitled to receiving similar information about its competitors.

According to Dietrich von Huelsen, EUROFER's General Manager, 90% of all states applying for EU membership, have already joined the confederation. These are Poland, Hungary, Czech Republic, Slovenia, Slovakia, Latvia, Romania. EUROFER members may rely upon protection against price-dumping import to the respective country effected by foreign importers.

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