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Parent company threatens to
close CASCO in Cardinal WESCHESTER, Illinois — Corn Products International, which owns CASCO’s Cardinal plant, is threatening to close its three Canadian plants if the Canadian government places an anti-dumping duty (a countervail) on U.S. corn imported to Canada. Casco owns three Canadian plants, all in Ontario, at Cardinal, London and Port Colbourne. "We are understandably concerned about the plight of Canada’s corn growers," said Sam Scott, president of Corn Products International. "However, we believe that a duty would severely reduce the market for Canadian corn farmers and have a negative impact on Canada’s agricultural industry." The Ontario Corn Producers Association asked the federal government to look into charging a duty on imported U.S.corn because it’s being sold at below cost-of-production prices. The U.S government tops up its corn producers earnings with a subsidy. A decision on a countervailing duty could take 18 months, say industry sources. |
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