October 27, 2016 16:18 ET

Aluminicaste Mexico Responds to Aluminum Insider article

PHILADELPHIA, PA--(Marketwired - October 27, 2016) - On October 21, 2016 Aluminum Insider published a story titled, "Evidence Points to Much Larger Fake Semi Trade Relocating to Vietnam."

Aluminicaste would like to go on record that we are deeply disappointed with the extremely irresponsible misguided narratives that Christopher Clemence from Aluminum Insider is promoting.

We would also like to go on record to refute much of Aluminum Insiders faulty reporting with the following statements:

  • Aluminicaste is an independent aluminum billet manufacturer based in Mexico, supplying mostly the Mexican, European and South American Market, with over 300,000 metric tons successfully processed in over 3 years of operations, and it is very proud to produce over 350 jobs directly and many more indirectly.
  • Aluminicaste maintains a reasonable amount of inventory, of which 100% is produced at our Mexican facilities.
  • We did not/do not stockpile unreasonable amounts of aluminum. The inventory numbers in the story were grossly exaggerated, untrue, and damaging to our business.
  • Aluminicaste prides itself on the fact that all product sales and related product shipments are conducted in strict compliance with Mexican foreign trade law as well as the customs laws and regulations of countries or regions where our products are transported, all of which is verifiable using documents held by authorities. False reports of circumvention defame our business and damage us greatly.
  • Aluminicaste has not engaged in and has never used any unlawful practices to evade duties imposed by the United States government. In fact, billet is assessed a 0% import tariff by the US. In the the last three years, Aluminicaste has shipped less than 10,000 metric tons of billet to the United States, less than 4% of our production.
  • Aluminicaste is not involved in any of the alleged "fake semis" or "fake pallet" sales to the United States. Our raw materials are sourced locally. Aluminicaste does not manufacture or purchase pallets for production use.

Aluminicaste takes seriously Aluminum Insiders' allegations and the resulting concerns they have caused amongst our business partners, customers and employees. This type of reporting causes damage to our corporate reputation. Aluminicaste will take all measures necessary to preserve and protect it's reputation.

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