U.S. rules predatory dumping on Japanese lattice-boom crawler cranes

The U.S. International Trade Commission and U.S. Department of Commerce issued a unanimous, bipartisan ruling finding predatory dumping by Japanese producers of lattice-boom crawler cranes, according to a statement from The Manitowoc Company, Inc. (NYSE: MTW).

Antidumping duties stemming from the ruling are set to take effect this month. The order has been published in the Federal Register.

Aaron H. Ravenscroft, President and Chief Executive Officer of Manitowoc, said, "We are pleased by the U.S. Government's decision. This outcome helps restore fair competition in the marketplace and supports the long-term strength of our U.S. manufacturing operations and workforce."

Manitowoc, founded in 1902 and headquartered in Milwaukee, designs and manufactures mobile hydraulic cranes, lattice-boom crawler cranes, boom trucks, and tower cranes under several brand names including Grove, Potain, and National Crane.

You May Also Be Interested In

• Nomura/Instinet Upgrades MR DIY Group M Bhd (MRDIY:MK) to Buy
• UBS Starts Internet Initiative Japan Inc (3774:JP) (IIJIY) at Neutral
• Dr Lal PathLabs Ltd (DLPL:IN) PT Raised to INR2,150 at Nomura/Instinet