Cimic Tile Subjected To 30.6% Anti-Dumping Duty In EU

Date:2011-09-21sunshuxing  Text Size:

 Shanghai CIMIC Tile (002162) reported yesterday that the final European Union ruling on anti-dumping with regards to Chinese tile imports requires it to pay a 30.6-percent tariff rate of shipments to the European Union, reports, citing the company’s announcement.

The tariff rate is one of five stipulated by the anti-dumping ruling, and the other four rates are 26.3, 29.3, 36.5 and 69.7 percent. CIMIC Tile’s EU sales were temporarily taxed at a 32.3 percent rate between March 17 2010 and September 15 2011, which was passed on to local importers.

CIMIC Tile expressed that while the anti-dumping case has influenced sales of antique and glazed tiles in the EU, its polished tiles were not significantly affected. The listed company has since adjusted the structure of its exported products.

CIMIC Tile predicts that sales revenue from the EU market will fall 40 percent year-on-year in 2011 due to anti-dumping tariffs. Its sales revenue in the region totaled 22.56 million yuan in 2010, accounting for 12 percent of revenue from exports, and only two percent of its total revenue.

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