Upon the request of Borusan Mannesmann Boru Sanayi ve Ticaret A.S. ("BMB"), Borusan Istikbal Ticaret T.A.S. ("Istikbal") and their affiliates (collectively, the Borusan Group ("Borusan")), the US Department of Commerce (DOC), on April 27, 2007, initiated an administrative review of the countervailing duty order on certain welded carbon steel standard pipe products from Turkey, covering the period of review extending from January 1, 2006, through December 31, 2006.
As a result of this review, the DOC has calculated a subsidy rate for Borusan for the period January 1, 2006 through December 31, 2006. The DOC has preliminarily determined that the total net countervailable subsidy rate is 0.23 percent ad valorem, which is de minimis.