Global Update

NAFTA Renegotiated, Steel and Aluminum Tariffs Remain

The U.S., Canada and Mexico Came to an agreement on trade the night of September 30 after months of renegotiating the 24-year-old North American Free Trade Agreement (NAFTA). Tariffs on Canadian steel and aluminum, however, were not resolved.

The updated trade deal, now called the United States-Mexico-Canada Agreement (USMCA), must undergo a 60-day review period in Congress before the President can sign it. Mexican President Enrique Peña Nieto leaves office December 1, which made September 30 the deadline to begin the 60-day period without having to restart negotiations with a new Mexican administration.

The President said the 34-chapter deal governs $1.2 trillion in trade. While the USMCA deal did not lift tariffs on Canadian aluminum and steel, those discussions will happen separately.

The Window and Door Manufacturers Association (WDMA) released a statement regarding the revised NAFTA agreement.

“WDMA is encouraged that the United States, Canada and Mexico were able to agree on a trilateral agreement to replace NAFTA,” says WDMA president and CEO Michael O’Brien. “WDMA is reviewing the details of the draft and is hopeful that the agreement’s terms promote open markets for the window, door and skylight industry, and contribute to a robust economy.”

Jay Timmons, president and CEO of the National Association of Manufacturers, is also positive.

“Manufacturers are extremely encouraged that our call for a trilateral agreement between the United States, Canada and Mexico has been answered,” says Timmons. “Today, there’s a massive amount of goods flowing across North America, meaning our countries’ economies are inextricably linked. What’s more, as the United States works to put an end to China’s cheating and unfair trade practices, we are better off united with our North American allies. We welcome the administration’s efforts to modernize this agreement and to create more opportunities for American manufacturing workers. As we review the agreement text, we will be looking to ensure that this deal opens markets, raises standards, provides enforcement and modernizes trade rules so that manufacturers across the United States can grow our economy.”

Correction

In the September 2018 issue of USGlass magazine, some information was mistakenly eliminated from the chart in the Sustainability Insights column, “You Get What You Measure” on page 14. The correct chart is printed [in the in-laid version]. USGlass regrets the error.

Şişecam Group Grows with Facility Acquisition, Positive Net Sales

Şişecam Group has completed its acquisition of the Sangalli facility in Monte Sant’Angelo, Italy. Trakya Cam Sanayii A.S.., Sişecam Group’s company operating in flat glass manufacturing, has invested $18.2 million (Euro 15.7 million) in a second facility in Italy and doubled its production capacity in the country.

The Sangalli Vetro Manfredonia flat glass production facility has a capacity of 190,000 tons per year, along with a lamination line with a capacity of 4 million square meters per year, a coating line with a capacity of 4 million square meters per year and a satin coating line with a capacity of 1.5 million square meters per year. In 2016, Şisecam Group also acquired the Sangalli Porto Nogaro plant for Sangalli Group located in northern Italy.

The company also acquired a further 49.8-percent stake in its flat glass manufacturer affiliate, HNG Float Glass Limited, headquartered in Mumbai, India, for $85.4 million. Şiesecam Group, which has been in a fifty-fifty partnership since 2013, no owns 99.80 percent of the company shares with this recent buy-out.

Financial Update

Şişecam Group reported consolidated net sales reached $1.3 billion (TL 6.8 billion) in the first half of 2018, with an increase by 24 percent compared to the same period of the previous year, according to the company’s latest financial results. The company reported a net profit of $304 million (TL 1.6 billion) with an increase of 93 percent for the same period.

In the first half of the year, Şişecam produced 2.4 million tons of glass, 1.2 million tons of soda ash and 1.8 million tons of industrial raw materials.

To view the laid-in version of this article in our digital edition, CLICK HERE.

 

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