On April 4, 2014, a Final Determination was announced by China's Ministry of Commerce ("MOFCOM") concerning its anti-dumping investigation of imported cellulose pulp originating from Canada, the United States and Brazil. The final duty imposed by MOFCOM on dissolving pulp imports within the scope of investigation for Cosmo Specialty Fibers was set at 16.9%. While Cosmo is disappointed with the rationale and results of the Final Determination, it was not unexpected. The Company had already initiated a mitigation plan including cost reductions, sales into alternative markets, moving into additional specialty pulp markets, and completing acetate qualification – a product predominantly sold outside the Chinese market, and exempted from duty within the Chinese market. As the tariff mitigation plan completes during 2014, Cosmo fully expects to regain typical sales volumes.
Products.
Cosmo is a dissolving wood pulp sulfite mill annual capacity of 170kt and can provide a wide range of High Purity Cellulose softwood-based products.
Sales.
Central National-Gottesman, Inc., based in New York, is the exclusive world-wide sales agent for Cosmo Specialty Fibers.
Ownership.
Cosmo Specialty Fibers is a private corporation with majority ownership held by The Gores Group, a Los Angeles based, global private equity firm.
Sustainability.
From bio-mass power generation, to PEFC™ chain-of-custody wood certification, Cosmo’s continual goal is to be best in class.
Bio-Refinery.
Cosmo is completing commercial pilots to add cellulosic-based bio- chemical products processed out of residual streams from mill operations.