A recent publication announced that the World Trade Organisation (WTO) has upheld a new tax levy against iron products imported to Europe from Brazil and that an appeal filed by Tupy has been rejected. How does the WTO ruling affect Tupy, SinterCast and the Ford Lion project?


Shareholder, name withheld

The WTO ruling applies only to commodities such as pipe fittings and other products that are sold directly to the public through retail stores. The levy and the WTO ruling does not apply to engineered products such as cylinder blocks that are ordered directly by the end-customer. The ruling has no affect on the Ford project or the potential CGI business and CGI strategy at Tupy.