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Antai Technology announced today the beginning and end of this appeal. On November 4th, the US Department of Commerce issued an anti-dumping tax order. Since January 23, 2009, import tariff deposits have been imposed on imported diamond saw blades and their components originating in China and South Korea. On November 9, the US Court of Appeals for the Federal Circuit rejected the complaints of Chinese and Korean companies such as Saint-Gobain, South Korea and Antai Technology, and Boshen Tools (002282) for requesting suspension of import tariff deposits. So far, the anti-dumping tax order issued by the US Department of Commerce for diamond saw blades and components originating in China and South Korea has come into effect and has been implemented.
Antai Steel Research Co., Ltd., a subsidiary of Aetna Technology (95% of the company's shares), was damaged by anti-dumping interests. Antai Steel Research Co., Ltd. specializes in the production and sales of diamond saw blades. The company is committed to the development of high-end product technology, and more than 90% of diamond saw blades are used for export. From January to October 2009, the US market exported 244 million yuan, accounting for 35.5% of the same period, accounting for 30.06% of the company's total sales revenue during the same period.
Antai Technology said that at present, South Korea's Erhe Company and Saint-Gobain have appealed to the US Court of Appeals for the Federal Circuit. If the case is won, the customs deposit levied by the US Customs will be returned.
Antai Technology disclosed the progress of anti-dumping investigation on diamond saw blades
Antai Technology (000969), which suffered a US anti-dumping tax order, failed to appeal with a number of companies and is preparing to appeal again to the US Court of Appeals for the Federal Circuit.