PUBLIC VERSION
2. Inability of a Significant Number of Domestic Producers to Carry Out Domestic Production at a Reasonable Level of Profit( 19 C. F. R. § 206.14( e)( 1)( ii))
The evidence in this petition also shows that the flood of imports of QSP has prevented a significant number of U. S. quartz producers to carry out domestic production of QSP at a reasonable profit.
Domestic Industry Profit Levels |
( Value in $ 1,000s) |
Item |
2020 |
2021 |
Calendar year
2022
|
2023 |
2024 |
Net Sales Value |
[ |
] |
Operating Income |
[ |
] |
|
Operating Income /
Net Sales Ratio
|
[ |
] |
Net Income |
[ |
] |
|
Net Income /
Net Sales Ratio
|
[ |
] |
For example, while its net sales value [ ] from [ ], the domestic industry’ s operating income declined [ ] and saw declines in net income from [ ].
Further the profitability of the broader domestic industry over the last five years demonstrates that the legal standard has been met: �
�
In the first sunset review of the AD / CVD orders on QSP from China, the Commission found that the domestic industry’ s net sales and operating income were markedly lower in 2023 compared to 2017 and that the domestic industry’ s operating profit margins had also deteriorated over the same period. 103
Caesarstone saw a steep drop in its financial performance. In 2023, Caesarstone reported that its U. S. revenues fell 20.6 % year-over-year. 104 By mid-2023, Caesarstone launched a major restructuring plan, implicitly acknowledging the unprofitability of its U. S.
103 Id. at 23.
104 Stone Update, Caesarstone: Positioning for 2024( Feb. 22, 2024), attached as Exhibit 13.
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