Rabnita metallurgical plant penalized by EU for dumping
The European Union forced the Rabnita metallurgical plant to pay an export tax of 3.7%. The decision was made after a special EU commission established that the plant exported steel bars and rolled metal at lower prices, causing damage to European companies.
In May last year, the EU started to examine the import prices of rolled metal produced in China, Moldova and Turkey at the request of the European Confederation of Iron and Steel Industries (Eurofer). It determined that the products made in China, Moldova and Turkey are sold at lower prices.
The decision was published in the Official Gazette of the EU on February 6 and came into force on February 8, 2009. Under the decision, the taxes on the metal products exported to the EU will be levied during six months.
The Rabnita metallurgical plant is the most modern company of the kind in the former Soviet area and is one of the best five plants in Europe. It was founded in 1985. Now the plant exports products to 60 countries in America, Africa, the Commonwealth of Independent States and Europe
According to the Ministry of Reintegration and the Customs Service of Moldova, last year the plant exported products worth US$152.1 million.
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