European Commission lifts antidumping sanctions from Mogilevkhimvolokno

The European Commission has lifted antidumping sanctions from OAO Mogilevkhimvolokno. The sanctions had been in effect for ten years, Mogilevkhimvolokno Director General Vladimir Sokolov told BelTA. Now Mogilevkhimvolokno will be able to increase export of polyester fibres and threads to Europe by 1,000 tonnes or some Br3 billion. “It is a very important event, as the company’s authority has been restored. Representatives of the European Commission have made sure the company operates independently and all its processes are transparent and manageable,” stressed Vladimir Sokolov. Over the last several years the European Union has presented no remarks concerning the company’s pricing policies, including no remarks concerning dumping attempts on foreign markets. Mogilevkhimvolokno has found its export market place and, despite the heavy competition from China and India, quite steadily sells the make in Europe and the CIS states. OAO Mogilevkhimvolokno is one of the leading European producers of polyester fibres and threads and the CIS only major manufacturer of dimethyl terephthalaten and polyether granulate, including polyether granulate for food industry. The company exports around 60% of the make. In January-September 2007, Mogilevkhimvolokno’s industrial output totalled Br453.7 billion, 13.4% up on the same period of 2006. Export rose 32.4%, production of consumer goods — 4.8% up. Mogilevkhimvolokno was founded in 1968 and incorporated as a joint-stock company in December 2002. It employs around 11 thousand people.

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