Calgon Carbon Corporation
) has announced that the antidumping order on steam activated
carbon imported into the U.S. from China has been extended by at
least another five years by the U.S. International Trade
Once the Chinese activated carbon enter the U.S. markets, the
importers will have to make cash deposits of estimated anti
dumping tariffs. The tariff rates will be determined by the U.S.
Department of Commerce (DOC). At the end of the fifth year, the
DOC and ITC will further review if the order can be extended.
Current average tariff rate, as announced in Nov 2012, is 47
cents per pound and this will be maintained for a year till Nov
2013. Calgon Carbon's tariff on activated carbon imported into
the U.S. from China is currently nil.
Calgon Carbon released its third-quarter 2012 results in Nov
2012. The company incurred a loss of $4.5 million or 8 cents a
share in the quarter compared with a profit of $14.5 million or
25 cents a share a year ago.
Excluding a restructuring charge of $8 million, the
Pennsylvania-based pollution control company earned 6 cents a
share in the quarter, which missed the Zacks Consensus Estimate
of 12 cents.
Revenues fell 5.6% year over year to $135.5 million, and
missed the Zacks Consensus Estimate of $143.0 million. Currency
translation had a negative impact of $3.2 million on sales,
stemming from a stronger dollar.
Calgon Carbon remains confident in its ability to balance the
need for future investment with its responsibility to provide
Despite some challenges, the company expects to continue to
capitalize on its growth opportunities. The company's healthy
sales gains and strategic initiatives will be beneficial in the
Calgon Carbon currently retains a Zacks Rank#3 (Hold).
Other companies in the pollution control industry having a
favorable Zacks rank are
CECO Environmental Corp.
Progressive Waste Solutions Ltd.
). While CECO Environmental Corp. carries Zacks Rank #1 (Strong
Buy), MFRI and Progressive Waste carry a Zacks Rank #2 (Buy).
PROGRESSV WASTE (BIN): Free Stock Analysis
CALGON CARBON (CCC): Free Stock Analysis
CECO ENVIRNMNTL (CECE): Free Stock Analysis
MFRI INC (MFRI): Free Stock Analysis Report
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