Chinese Ministry Agrees With Corning

Chinese ministry of commerce removes dumping margins on Corning imports

January 3, 2005

2 Min Read

CORNING, N.Y. -- Corning Incorporated (NYSE: GLW) announced that on Saturday, January 1, 2005 it received a positive final determination from the Ministry of Commerce (MOC) of the People's Republic of China, Beijing, that affirmed the company's original position that it had not dumped standard single-mode optical fiber into the Chinese market.

   The MOC's final determination concluded that Corning had not dumped standard single-mode optical fiber into the Chinese market since the margin between its home country pricing and its pricing into China was less than the statutory de minimis threshold. The government ministry thereby eliminated its preliminary determination (in effect since June 16, 2004) of a 16 percent dumping margin which means that no dumping margin will be applied against Corning imports, effective immediately.

   China's MOC also ruled that optical fiber imports from the United States, Korea and Japan collectively caused injury to the domestic Chinese fiber industry. As a consequence of this injury finding, individual dumping margins have been assigned to the specific companies from these countries found guilty of dumping optical fiber by the Chinese MOC. However, in Corning's case, no dumping margin was found.

   "We are very pleased with the MOC's final determination with regard to Corning. We have a tremendous amount of respect for the MOC and the process they followed to reach their final decision. We thank the Chinese government for bringing this matter to a final resolution," said Robert B. Brown, senior vice president and general manager of Corning Optical Fiber.

   China's MOC initiated its anti-dumping investigation on July 1, 2003 against certain standard single-mode optical fiber products originating from the United States, Japan and Korea, alleging that foreign products were being imported and sold at lower prices than the market conditions justified, and that Chinese domestic producers were injured as a result. The investigation was based on a complaint filed by two Chinese fiber manufacturers against several optical fiber producers.

Corning Inc.

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