Bulletin
Investor Alert

New York Markets Close in:

press release

Aug. 6, 2021, 6:09 p.m. EDT

Canadian International Trade Tribunal to Maintain Antidumping and Countervailing Duties on Sugar Imports

MONTRÉAL and VANCOUVER, British Columbia, Aug 06, 2021 (GLOBE NEWSWIRE via COMTEX) -- MONTRÉAL and VANCOUVER, British Columbia, Aug. 06, 2021 (GLOBE NEWSWIRE) -- Rogers Sugar Inc. (the "Corporation" or "Rogers Sugar") /zigman2/quotes/208987350/delayed CA:RSI +0.82% is pleased to recognize that the Canadian International Trade Tribunal has issued a decision to pursue its orders against dumped and subsidized sugar from the United States (US), the European Union (EU), and the United Kingdom (UK). As a result of this announcement, anti-dumping and countervailing duties will continue to be applied on imported sugar from these regions.

"The Tribunal's decision recognizes that Canadian sugar producers are vulnerable as long as the distortions created by the US, EU, and UK sugar programs continue," stated Sandra Marsden, President of the Canadian Sugar Institute. "Thus far, global and regional trade negotiations have not resulted in a meaningful change to the one-way trade situation with the US, EU, and UK. Until these distortions are eliminated, Canada's open sugar market represents an attractive destination for surplus sugar, and continuation of these duties is essential to restrict unfair competition."

"We are pleased that the CITT has recognized the unfair playing field and decided to maintain anti-dumping and countervailing duties. This decision will help maintain an essential Canadian sugar industry that operates subject to world market conditions. In the context of the pandemic, many have recognized the importance of supporting Canadian food security and providing Canadian consumers and food manufacturers with a stable and reliable supply of goods," stated John Holliday, President and CEO of Lantic.

About Rogers Sugar Inc.
Rogers is a corporation established under the laws of Canada. The Corporation holds all of the common shares of Lantic and its administrative office is in Montreal, Quebec. Lantic operates cane sugar refineries in Montreal, Quebec and Vancouver, British Columbia, as well as the only Canadian sugar beet processing facility in Taber, Alberta. Lantic also operate a custom blending and packaging operation and distribution center in Toronto, Ontario. Lantic's sugar products are marketed under the "Lantic" trademark in Eastern Canada, and the "Rogers" trademark in Western Canada and include granulated, icing, cube, yellow and brown sugars, liquid sugars and specialty syrups. Lantic owns all of the common shares of TMTC and its head office is headquartered in Montreal, Quebec. TMTC operates bottling plants in Granby, Degelis and in St-Honore-de-Shenley, Quebec and in Websterville, Vermont. TMTC's products include maple syrup and derived maple syrup products supplied under retail private label brands in over fifty countries and are also sold under various brand names, such as L.B. Maple Treat, Great Northern, Decacer and Highland Sugarworks.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Mr. Jean-Sebastien Couillard
Vice President of Finance, Chief Financial Officer & Corporate Secretary
Lantic Inc.
Tel: (514) 940-4350
Website: www.lanticrogers.com

COMTEX_391115707/2471/2021-08-06T18:08:50

Is there a problem with this press release? Contact the source provider Comtex at editorial@comtex.com. You can also contact MarketWatch Customer Service via our Customer Center.

(C) Copyright 2021 GlobeNewswire, Inc. All rights reserved.

/zigman2/quotes/208987350/delayed
CA : Canada: Toronto
$ 6.16
+0.05 +0.82%
Volume: 44,972
July 7, 2022 11:53a
P/E Ratio
13.59
Dividend Yield
5.84%
Market Cap
$636.64 million
Rev. per Employee
N/A
loading...

Partner Center

Link to MarketWatch's Slice.