Pantech resumes steel exports to US

The Johor-based manufacturer of steel products and industrial supplies for the oil & gas and chemical-processing industries said the preliminary affirmative anti-circumvention determination on a countrywide basis by the US Department of Commerce (DOC) for imports of carbon steel butt-weld fittings from Malaysia, has affected the group

KUALA LUMPUR: Pantech Group Holdings Bhd said its steel products manufacturing unit will resume exports to the US after the company said it was not subjected to anti-dumping duty.

Pantech, in a filing with Bursa Malaysia today, said the resumption of exports is expected to have positive impact on group revenue, with contribution from Pantech Steel Industries Sdn Bhd (PSI) projected to normalise by fiscal quarter ending Nov 30, 2019.