U.S. Producers of Carbon Steel Flanges, Weldbend Corporation and Boltex Mfg. Co., Welcome Department of Commerce Final Determinations in Antidumping Duty and Subsidy Investigations

U.S. Government Determines Indian, Italian, and Spanish Producers
Have Illegally Dumped Finished Carbon Steel Flanges in the American
Market, and that Indian Finished Carbon Steel Flange Producers Receive
Illegal Subsidies from the Indian Government

Department of Commerce Assigns Final Dumping and Countervailing Duty
Rates in Enforcement of U.S. and International Trade Laws

ARGO, Ill. & HOUSTON–(BUSINESS WIRE)–Two leading producers of carbon steel flanges, Weldbend Corporation
(“Weldbend”) and Boltex Mfg. Co. (“Boltex”), welcome the final
determinations from the U.S. Department of Commerce in the antidumping
duty investigations concerning finished carbon steel flanges from India,
Italy and Spain, as well as a countervailing duty investigation of
finished carbon steel flanges from India. These actions follow the
petitions filed by Weldbend and Boltex on June 30, 2016 with the U.S.
Department of Commerce and the U.S. International Trade Commission,
seeking the enforcement and compliance of Indian, Italian and Spanish
manufacturers with U.S. and international trade laws.

“We welcome the final outcome of the Commerce Department’s lengthy
investigation into allegations of unfair trading by Indian, Italian and
Spanish producers of finished carbon steel flanges. The United
States has laws defending American workers from unfair trade practices
and we thank the U.S. government for taking decisive action against
those who choose to violate those laws,” said James J. Coulas, Jr.,
owner and president of Weldbend Corporation.

“These final determinations confirm what we have said from the
beginning: that producers of flanges from India, Italy and Spain have
been selling their products in the United States at significant dumping
margins, and that the Indian government illegally subsidizes its flange
industry. We hope that the imposed duty rates resulting from this
investigation and the continued enforcement of trade rules and
regulations will restore a level playing field in this country,” said
Frank Bernobich, president and chairman of the board of Boltex.

With respect to the antidumping investigation involving Spanish
respondent Ulma Forja, S. Coop, it continues to be assigned the
punishing dumping rate of 24.43 percent, because it refused to cooperate
with the U.S. government’s investigation. All other Spanish producers
are assigned the rate of 18.1 percent. This is unchanged from the
preliminary decision made by the Department of Commerce in January of
this year.

Similarly, in the case involving Italy, Metalfar Prodotti Industriali
S.p.A. refused to cooperate and is being assigned a final rate of 204.53
percent. The other Italian producer, Officine Ambrogio Melesi & C.
S.r.l., was also preliminarily assigned a final rate of 204.53 percent.
All other Italian producers are assigned the rate of 79.17 percent. This
is also unchanged from the preliminary decision made by the Department
of Commerce in January of this year.

Finally, Norma (India) Limited and R. N. Gupta & Company Ltd., the
respondents in the antidumping case against India, are being assigned
the final rates of 11.32 percent and 12.58 percent, respectively. All
other Indian producers are assigned the rate of 11.95 percent. All of
these rates are higher than those preliminarily calculated by the
Department of Commerce last January. Also, both of these Indian
producers were also found to have received illegal government subsidies,
resulting in countervailing duty margins of 5.66 percent and 9.11
percent, respectively. These are substantially higher than the
countervailing duty margins preliminarily calculated by the Department
of Commerce in November of 2016. The additional duties that will be
imposed on Indian imports will be the sum of the antidumping duties and
the countervailing duties.

On May 24, 2017, the International Trade Commission unanimously ruled
that dumped Spanish flanges economically injured the U.S. finished
carbon steel flange industry. The same ruling with respect to dumped
Italian flanges and dumped and subsidized Indian flanges is expected in
July of 2017.

Finished carbon steel flanges are forged rings of steel designed to join
two sections of a piping system or to start a piping system from a
pressure vessel, valve, or any other flange assembly.

About Weldbend Corporation

Weldbend is the industry leader with over 60 years of performance-
proven reputation. Weldbend pioneered advance techniques and designed
equipment uniquely capable of producing only the finest carbon steel
weld flange and weld fitting products. From start to finish, Weldbend
strives to be “The Standard” to which weld fittings and weld flanges are
manufactured, stored, organized, and shipped. Weldbend manufactures
stock for large inventories and prompt and precise shipments.

As a family business, Weldbend is committed to delivering a level of
service and product that achieves complete customer satisfaction.
Weldbend’s precision accuracy in machining and manufacturing makes it a
prime source of fittings and flanges from ½” through 60” sizes. Further
information about Weldbend can be found at www.weldbend.com.

About Boltex Mfg. Co., L.P.

Boltex is a vertically-integrated manufacturer of quality, American-made
forged steel flanges for the oil and gas, petrochemical, transmission,
engineering and construction industries. Boltex products are sold
exclusively through wholesale distributors. This integrated approach
allows Boltex to manage its in-house forging, heat treatment,
metallurgical testing, and robotic machining processes and thereby
ensure the delivery of only the highest quality domestic flanges.

The Boltex commitment to quality is matched only by its on-time delivery
performance made possible by its extensive finished flange and rough
forging inventories. Further information about Boltex can be found at www.boltex.com.

Weldbend Corporation
6600 South Harlem Avenue
Argo, IL
60501-1930

Boltex Mfg. Co., L.P.
4901 Oates Road
Houston, TX 77013

Contacts

Media:
Gagnier Communications
Dan Gagnier/Patrick Reynolds
646-569-5862