U.S. Files WTO Complaint
Against China Over Aluminum
he United States has ﬁled anoth-
er trade enforcement complaint
against China at the World Trade
Organization (WTO), alleging the
country is skirting WTO rules by pro-
viding subsidies to certain producers
of primary aluminum.
The government said it took the
action to address U.S. concerns
that China’s subsidies are artiﬁcially
expanding Chinese capacity, produc-
tion and market share and causing
a signiﬁcant decrease in the global
price for primary aluminum.
and low-priced inputs for Chinese
aluminum are contributing to excess
Artiﬁcially cheap loans from banks
Source: Ofﬁce of the
U.S. Trade Representative
capacity and undercutting American The U.S. says China has unfairly propped up its domestic aluminum industry. That’s
workers and businesses,” U.S. Trade led to a big drop in the global price for the metal.
Representative (USTR) Michael
Froman said in a statement. num production increased by 154 per- COMPANY NEWS
According to the USTR’s ofﬁce, the cent and capacity increased by 243 B.F. Rich Ceases Operations
country’s apparent subsidies raise percent, while global prices fell by 46 B.F. Rich Windows & Doors, a long-
concerns that China is not acting con- percent. It notes that during the same time manufacturer of vinyl replace-
sistently with its obligations under period, U.S. primary aluminum pro- ment fenestration products head-
the WTO Agreement on Subsidies and duction decreased by approximately quartered in Newark, Del., closed its
China’s Commerce Ministry said 46 percent, even though overall U.S. people out of work.
in a statement the U.S. complaint consumption increased. The number “Unfortunately, despite a long leg-
of U.S. aluminum smelters fell from acy of achievements, B.F. Rich has
The USTR ofﬁce claims that from 14 in 2011 to ﬁve in 2016, with only experienced ﬁnancial setbacks dating
37 percent and capacity decreased by doors in February, putting about 130
lacked a factual basis.”
007-2015, Chinese primary alumi- one operating at full capacity.
back to the beginning of the Great
Recession in 2007,” said Terry Rex,
vice president of sales and marketing,
in an e-mail to DWM. “This situation
could not be sustained.”
Sources told DWM that B.F. Rich
had been in negotiations with a poten-
tial buyer but the deal fell through,
forcing the company to close.
B.F. Rich was founded in 1957 by
Benjamin Spiller, Frank Chaiken and
Richard Guyer. (B.F. Rich is a combi-
nation of their names.)
Jeld-Wen’s IPO Goes Live
On January 27, Jeld-Wen launched its initial public offering (IPO) on the New
York Stock Exchange at an announced price of $23 per share. In a release, the
company said it put 25 million shares of its common stock into the IPO, which
could raise up to $575 million.
The company said it will use about $375 million of the IPO to pay down
its debt. The rest will be used for “general corporate purposes,” according to a
prospectus ﬁled with the U.S. Securities and Exchange Commission.
Jeld-Wen initially ﬁled for an IPO on June 1, 2016.
Jeld-Wen operates 115 manufacturing facilities in 19 countries. It’s head-
quartered in Charlotte, N.C. In November, the company announced that it
would build a new corporate campus in Charlotte and hire about 200 workers.
continued on page 16
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