Classic Brands Issues Statement on U.S. International Trade Commission Preliminary Determination
The Company will continue to avail itself of all legal options to vigorously defend its position as the ITC and U.S. Department of Commerce move forward with their investigations.
COLUMBIA, Md., May 18, 2020 /PRNewswire/ -- Classic Brands, ("Classic" or the "Company"), a leading designer, distributor, and manufacturer of sleep products, sleep accessories, and furniture, today issued the following statement in response to the affirmative preliminary determination made by the U.S. International Trade Commission ("ITC") regarding the antidumping ("AD") investigation on mattress imports from Cambodia, Indonesia, Malaysia, Serbia, Thailand, Turkey, and Vietnam:
"We are disappointed that the ITC has made the preliminary determination that the U.S. mattress industry is being injured by reason of the importation of mattresses from strong U.S. trading partners, most of which are free market economies. We strongly believe that a comprehensive review and measured analysis of the facts will reveal that the Petitioners' allegations of material injury to the U.S. mattress industry are without merit, and are hopeful that the ITC's final determination will reflect this position.
The Company will continue to avail itself of all legal options to vigorously defend its position as the ITC and U.S. Department of Commerce move forward with their investigations. Imposing the import duties sought by the Petitioners would reduce the availability and affordability of an essential consumer product and risk inflicting serious damage to the U.S. economy and consumers at a time when the country can least afford it. The free market is the best means of driving product innovation and serving the American people, and now is not the time to erect trade barriers or protectionist policies in the name of shielding a handful of highly consolidated, profitable companies."
Classic Brands is represented by Steptoe & Johnson LLP.
ABOUT CLASSIC BRANDS
Founded in 1971 with headquarters in Columbia, Maryland and distribution capabilities nationwide, Classic Brands is a leading designer, distributor and manufacturer of sleep products, sleep accessories and furniture, with a focus on the finest quality mattresses. The company has a long history of providing product development, sourcing, and logistics services to a diverse set of leading retail customers throughout the U.S. Classic Brands is constantly seeking to deliver quality and comfort at an affordable price. The company uses the finest materials from around the world including all-natural and high-performance covers, Talalay and Dunlop latex, memory foam, gel-infused memory foam, innerspring and wrapped coil hybrids. Classic Brands is committed to being on the cutting edge of designing and producing innovative products for people to sleep healthier. Its sleep systems are designed to help achieve the maximum benefit from each night of sleep. For more information, visit www.ClassicBrands.com.
CONTACT
Gaffney Bennett
[email protected]
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