India Shrimp: Commerce Set to Recognize Varma Marine's Name Change
The Commerce Department looks set to recognize an Indian company’s name change and corporate reorganization for the purposes of antidumping duties on frozen warmwater shrimp from India (A-533-840). The agency preliminarily found Varma Marine Private Limited (Varma) is the successor-in-interest to Varma Marine, in the preliminary results of a changed circumstances review. The agency preliminarily found Varma and Varma Marine signed a takeover agreement to transfer all Varma Marine assets to Varma, such that Varma operates as essentially the same business entity as Varma Marine with respect to the production and sale of subject merchandise.
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If Commerce confirms its finding in the final results, Varma will inherit the AD rate assigned to Varma Marine, i.e., 3.88%.