FIPCO launches anti-dumping probe into PVC-coated textiles, fabrics imports

Logo of Filing and Packing Materials Manufacturing Co. (FIPCO)

Filing and Packing Materials Manufacturing Co. (FIPCO) announced that the General Authority of Foreign Trade (GAFT) decided on Nov. 30 to investigate a claim filed by FIPCO's affiliate, FPC Industry Co., to take anti-dumping actions against imports of PVC-coated textiles and fabrics. 

This culminates two years of efforts by the company, as FPC has been suffering over the past years of not fulfilling its sales targets, which has had a negative impact on its financial statements due to unfair competition and dumping practices by Chinese and Korean companies, according to a statement to Tadawul. 

Therefore, the company formed an internal business team to cut costs, start investigations, and officially file a claim with GAFT. 

FPC provided evidence of its production capabilities compared to local demand and proved there were dumping practices in the local market. 

Investigations run 12 months, starting Nov. 30, 2023, and GAFT may extend the period to 18 months maximum as of the start date, the statement added. 

The company confirmed its readiness to follow up on the investigations in cooperation with the other relevant authorities until anti-dumping duties are applied.

It expects a positive financial impact that is difficult to determine due to market conditions, adding that investigations will put an end to the dumped imports.

FIPCO will announce any related developments and the potential financial impact (if any) when applicable in due course.