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NEWS


THE NEW BRIGHTON BEST


Available for trade with distributors throughout


upon account approval.


A Full range of


Socket Products & introducing our


NEW 8.8 Cap Screw line and also a full range of 10.9 DIN 931/933 Plain & Zinc


EUROPE


EU amends anti-dumping measures on China


On 10th


to the EU fastener manufacturing industry. The European Commission has recalculated the tariff levels applied to imports of the cited


A


products, reducing the headline tariff level from 85% to 74.1%. Tariffs applied to around 90 exporters that cooperated with the original investigation have been reduced from 77.5% to 54.1%. Tariffs for eight companies that received individual treatment during the original investigation are amended. There is one addition to the original schedule of tariffs, with Bulten Fasteners (China) Ltd being accorded a zero level tariff. The new regulation came into force on 11th


October. It appears unlikely to make any significant


changes to the pattern of fastener imports to the EU. The application of the tariffs in early 2009 resulted in importers shifting their orders to Taiwan and other Asian countries. While the proposed lower tariffs on Chinese imports will close the duty paid price gap, indications from importers are that there is little real incentive to revert to ordering from China. In publishing the new regulation the EU looks to have met its obligations to the WTO without


undermining the effect of the anti-dumping measures on China. These now look set to remain in place until at least 2014, at which time EU fastener producers will be able, should they choose, to request a termination review that could result in the extension of the measures for a further five years. Copies of Regulation 924/2012 in each EU official language can be downloaded from the Official Journal page L275, 10.10.12.


EURO trade available


online discount on casepack for most of our Socket range


10% A FURTHER


discount for Online Orders


5%


Bossard Group acquires KVT Fastening


Bossard Group is acquiring the fastening division of KVT Koenig Group in a CHF 200 million deal expected to complete by end November 2012.


as well as members of its management. The acquisition entails a combined share and asset transaction. As a first step the takeover


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price of around CHF 200 million (approximately 166 million euros) is to be financed by taking out a consortium loan. In a second step the loan will be reduced through a share capital increase of an estimated CHF 80 million, planned, subject to market conditions, for the first half of 2013. Kolin Holding Ltd as the main shareholder owned by the Bossard family, will participate in the share capital increase in proportion to its shareholding. Bossard said the acquisition would allow it to “draw closer to its strategic goal of pushing


ahead worldwide and continuing to grow in a profitable and customer oriented manner.” In its announcement Bossard also spoke about cross linking engineering expertise and supplementing the product and service range supplied to customers. The acquisition will take the number of Group employees to more than 1,800 in over 50 locations worldwide. Bossard Group sales for 2011 totalled CHF 474 million. Earlier in October the Group


announced 2012 nine-month sales to September were CHF 370.2 million, 2.4% ahead of the same period in 2011. European sales were down 4% (-2.8% in local currency) year on year at CHF 198.2 million. American sales grew strongly by 17.9% to CHF 110.8 million. Asian sales were virtually unchanged at CHF 61.0 million. See our Cover Story for a special interview with Bossard Group CEO, David Dean. www.bossard.com


Fastener + Fixing Magazine • Issue 78 November 2012


VT Fastening, headquartered in Dietikon, Switzerland, specialises in high quality, special fastening and sealing applications, with annual sales of around CHF 120 million and 230 employees in Switzerland, Germany, Austria and Central Eastern Europe. The division currently belongs to KVT Koenig Group, which is held by Capvis and HgCapital


October the European Union published Regulation 924/2012,


amending Regulation 91/2009, which imposed anti-dumping tariffs on certain steel fasteners imported from China.


s expected, and reported by this magazine in September, the new regulation confirmed the continuation of anti-dumping measures against Chinese steel fasteners, but reduced the tariff levels slightly. The regulation confirmed that the EU was correct in its original determination that dumping had occurred and that this had resulted in material injury


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