Calgon Carbon Corporation (NYSE: CCC) announced that the Department of Commerce (DOC) issued new tariffs on steam activated carbon from China ranging from $0.00 to $0.96 per lb. These rates were based upon a review of prices of Chinese activated carbon imported into the U.S. from April 1, 2010 to March 31, 2011. These announced tariffs may be modified to correct any errors made by the Commerce Department.
The average duty is $0.47 per lb. which replaces the average tariff rate of $0.127 that had been in effect. Calgon Carbon's tariff with respect to product it imports into the U.S. from China continues to be $0.00. Revision of the tariff rates has two effects. First, these new rates become the cash deposit rate applied to future imports. Also, if a company deposited less than its new tariff rate on carbons imported during the period of review, it will be required to pay additional duties; conversely, if it deposited more than the new rate, it will receive a refund.
Randy Dearth, Calgon Carbon's President and Chief Executive Officer, commented, "We are very pleased with the announcement. We are optimistic that these revised tariffs will continue to encourage fair competition and fair prices that reflect demand and manufacturing costs for activated carbon products."
Calgon Carbon, headquartered in Pittsburgh, Pennsylvania, is a global leader in services and solutions for making water and air safer and cleaner.