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Perfectus Aluminum Inc. Responds to Trade Group

Del

ONTARIO, Calif., Oct. 19, 2017 (GLOBE NEWSWIRE) -- Perfectus Aluminum Inc. has issued the following: On October 12, 2017 the Aluminum Extruders Council (AEC), an industry group representing largely American aluminum extruders, posted to its blog a false narrative regarding a suit to which Perfectus Aluminum Inc. is a related party. The government is not "seeking unpaid duties from Perfectus for goods brought into the country." Rather, the government is attempting to use a 2017 Department of Commerce determination to assess retroactive antidumping duties on goods imported as early as 2011. It is discouraging that AEC would tout such an obviously egregious government overstep as a "victory" to their members and the industry: were it one of AEC's own members facing such an obvious violation of fair play and due process, it would rightfully argue that government overreach is a threat to manufacturers everywhere.

In addition to the hypocrisy of the AEC's promotion of this case, its stance on the underlying issues warrant serious scrutiny. AEC's position, which it has articulated in numerous filings before the Department of Commerce, is that permitting Perfectus' product to enter the American stream of commerce would, in AEC's words, "harm U.S. producers." It bears repeating that at the time Perfectus' products were detained-in direct response to AEC's victory before Commerce-they were in a port leaving the United States. If the AEC gets its wish and Perfectus' goods are indeed forfeited, they would be liquidated and would, by law, be released in some form into the open market: the very outcome AEC purports to fear most.

Finally, allegations do not equate to guilt. Cherry-picking language from a civil complaint to promote a false narrative is both unethical and untruthful. To this end, Perfectus has attached its filing, in its entirety, at the end of this release.

Please address any questions to Harris, Baio & McCullough at 215-440-9800.

A link to the PDF is available here: http://www.globenewswire.com/NewsRoom/AttachmentNg/d8d784b3-d89d-4b14-bbdc-a453d13731d8




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Perfectus Aluminum Inc. via Globenewswire

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