Saccharin from China - USITC

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2008, both of these forms of saccharin represented *** of PMC’s reported saccharin sales. PMC’sfinancial data were reported on the basis of a calendar year. PMC reported ***. 40Operations on SaccharinIncome-and-loss data for PMC on its operations on saccharin are presented in table III-11. Thedomestic producer reported *** during the first four periods of review, followed by an *** in 2007 and a*** in 2008. Net sales (quantity and value), the cost of goods sold (“COGS”), and selling, general, andadministrative (“SG&A”) expenses all *** during the period of review. In particular, 2008 net sales(quantity and value) were ***. Per-pound revenues *** from 2003 to 2007, then *** in 2008. 41 Perpoundoperating costs and expenses (COGS and SG&A expenses combined) followed a similar pattern of*** from 2003 to 2007, followed by a *** in 2008.Table III-11Saccharin: Results of operations of U.S. producer PMC, 2003-08* * * * * * *From 2007 to 2008, per-pound raw material costs ***, which resulted from ***. *** in per-pound directlabor ($***), other factory costs ($***), and SG&A expenses ($***) during this time were also ***. 42Despite the *** in sales quantities, profitability *** from 2003 to 2007 before *** in 2008. The43 44*** operating margin reported in 2003 *** to a *** in 2007, then *** from the 2007 value.Capital Expenditures and Research and Development ExpensesPMC’s data on capital expenditures and research and development (“R&D”) expenses are shownin table III-12. Capital expenditures were ***, and ranged from $***. In contrast, R&D expenses were*** and generally *** during the review period. According to PMC, its capital expenditures primarilyreflect ***. R&D expenses primarily reflect ***. 45Table III-12Saccharin: Capital expenditures and research and development expenses of U.S. producer PMC,2003-08* * * * * * *Assets and Return on InvestmentThe Commission’s questionnaire requested data on assets used in the production, warehousing,and sale of saccharin to compute return on investment (“ROI”). Although ROI can be computed in many40Commission staff verified the U.S. producers’ questionnaire response of PMC, and the results of theverification are incorporated in this report.41***.42E-mail correspondence from ***, February 27, 2009, and confirmed during verification.43***. E-mail correspondence from ***, February 27, 2009, and confirmed during verification.44Due to the *** in 2008 as compared to the prior review periods, a variance analysis is not shown in this report.45E-mail correspondence from ***, February 27, 2009, and confirmed during verification.III-6
different ways, a commonly used method is income divided by total assets. Therefore, ROI is calculatedas operating income divided by total assets used in the production, warehousing, and sale of saccharin.Data on PMC’s assets and its ROI are presented in table III-13. The total assets utilized in theproduction, warehousing, and sale of saccharin *** irregularly from $*** in 2003 to $*** in 2008. TheROI *** from *** percent in 2003 to *** percent in 2007, then *** percentage points in 2008 to ***percent. The trend of the ROI was similar to the trend of the operating income margin during thereporting period.Table III-13Saccharin: Value of assets and return on investment of U.S. producer PMC, 2003-08* * * * * * *III-7
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Saccharin from ChinaInvestigation N
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U.S. International Trade Commission
Page 6 and 7:
CONTENTSPagePart III: Condition of
Page 9 and 10: VIEWS OF THE COMMISSIONBased on the
Page 11 and 12: mouthwash. 14 By weight, it is abou
Page 13 and 14: statement challenging PMC’s statu
Page 15 and 16: Quantity and Type of Parts Sourced
Page 17 and 18: IV.LIKELIHOOD OF CONTINUATION OR RE
Page 19 and 20: B. Conditions of Competition and th
Page 21 and 22: . Supply in the U.S. MarketAs in th
Page 23 and 24: In the original determination, the
Page 25 and 26: significant volumes of saccharin to
Page 27 and 28: the domestic like product. 160 All
Page 29: period, increasing from *** percent
Page 32 and 33: injured or likely to be injured by
Page 34 and 35: Table I-1--ContinuedSaccharin: Summ
Page 36 and 37: Table I-2Saccharin: Administrative
Page 38 and 39: U.S. Tariff TreatmentImports of thi
Page 40 and 41: and monkeys, evidence strongly supp
Page 42 and 43: Channels of DistributionDuring the
Page 44 and 45: Table I-8Saccharin: U.S. shipments
Page 46 and 47: PMC sells saccharin ***, while mark
Page 48 and 49: The combined quantity of purchases
Page 50 and 51: Table II-5Saccharin: Interchangeabi
Page 52 and 53: adjusting supply in response to pri
Page 54 and 55: Changes in Character of Operations
Page 56 and 57: PMC further described its reenginee
Page 61 and 62: PART IV: U.S. IMPORTS, THE INDUSTRY
Page 63 and 64: Table IV-2Saccharin: U.S. importers
Page 65 and 66: The capacity, production, exports,
Page 67 and 68: In order to protect the sugar indus
Page 69 and 70: Table IV-7Saccharin: Global exports
Page 71 and 72: Trade BalancesTable IV-9 contains G
Page 73: Information concerning exports of s
Page 76 and 77: Figure V-1Exchange rates: Index of
Page 78 and 79: Table V-3Saccharin: Weighted-averag
Page 81 and 82: 31504 Federal Register / Vol. 73, N
Page 87 and 88: wilkins on PROD1PC63 with NOTICES72
Page 89: APPENDIX BCALENDAR OF PUBLIC HEARIN
Page 92 and 93: In Opposition to Continuation of th
Page 95: Table C-1Saccharin: Summary data co
Page 99 and 100: U.S. PRODUCERS COMMENTSThe Commissi
Page 101 and 102: ***“***.”***“No.”***“No.
Page 103 and 104: DOC/ITC regulations. Their own prod
Page 105 and 106: ***“*** could lower inventories b
Page 107 and 108: ***“*** cannot comment on this, n
Page 109:
The Commission requested foreign pr
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Saccharin from China - USITC

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