Following the European Commission’s publication of the relevant regulation in the Official Journal, the Zagreb-based group says that the anti-dumping duties will pave the way for fair competition and create an opportunity for the group to double its exports of standard bolts to above 60 million euros annually.
This will also allow further investment of €100 million annually, DIV said.
DIV recalled that the Commission initiated an investigation following a complaint lodged by the European Industrial Fasteners Institute on behalf of producers representing more than 25% of the total Union production of iron or steel fasteners about the dumped imports.
The complaint contained evidence of dumping and of resulting material injury that was sufficient to
justify the initiation of the investigation.
As a result of the investigation, the EC published the regulation “imposing a definitive anti-dumping duty on imports of certain iron or steel fasteners originating in the People’s Republic of China.”
DIV said that a similar regulation had been in force in 2013 and at the time the group had invested €55 million in its plants in the town of Knin and created about 500 jobs. The regulation was rescinded in 2016.
The new regulation is in place after six years of our efforts to maintain our status of a viable producer despite unfair competition, DIV said.
According to information on DIV’s website, the Knin branch of DIV GROUP Ltd. is the largest bolt factory in the European Union, and its products are delivered to European countries, America and South Africa.
In Knin, the company has 23 production lines, 14 thread-rolling lines, 3 lines for the heat treatment of screw material with a capacity of 3 tons per hour each, 2 lines for surface protection by galvanizing with a capacity of about 5 tons per hour, and a semi-automatic packaging of bolts with secured transport communication by rail and road, according to DIV’s website.
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