Commerce Maintains Changed Circumstances Review Finding for Italian Pasta Maker
Following a review of interested party comments, the Commerce Department maintained its finding that Italian pasta maker Newlat Food S.p.A. is not the successor-in-interest to Delverde Industrie Alimentari S.p.A. following a merger of the two companies. In a May 4…
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issues and decision memorandum that accompanied Commerce's final results of a changed circumstances review, the agency found that, despite Newlat's Dec. 31, 2019, acquisition of Delverde, the entire executive staff, production, supplier relationships and customer base of Newlat differs from pre-merger Delverde's. “We further recommend finding that Newlat may not receive the company-specific cash deposit requirements previously assigned to Delverde, but instead shall continue to be subject to the cash deposit requirements for all-other producers and exporters,” the memo said.