The U.S. fingers Vietnam for currency manipulation, but holds back on a unfair-trade tariff. Also, LOTTE expands its operations in Turkey, and an industry legend dies at age 93.
This edition of Radio Stone Update is sponsored by Quantra, manufacturers of the world’s toughest, most beautiful quartz surfaces made with up-to-the-minute Italian technology… in yet another brand new state-of-the-art factory. http://www.quantra.in
Radio Stone Update is presented on the first and third Wednesdays every month at 9 a.m. everywhere on Earth with the latest news and insights in hard surfaces. Check our archives at www.radiostoneupdate.com.
The U.S. fingers Vietnam for currency manipulation, but holds back on a unfair-trade tariff. Also, LOTTE expands its operations in Turkey, and an industry legend dies at age 93.
This edition of Radio Stone Update is sponsored by Quantra, manufacturers of the world’s toughest, most beautiful quartz surfaces made with up-to-the-minute Italian technology… in yet another brand new state-of-the-art factory. http://www.quantra.in
Radio Stone Update is presented on the first and third Wednesdays every month at 9 a.m. everywhere on Earth with the latest news and insights in hard surfaces. Check our archives at www.radiostoneupdate.com.
K. SCHIPPER: Hi, I’m K. Schipper with the latest from Radio Stone Update
The United States government now considers Vietnam a currency manipulator, but there’s no penalty on Vietnamese goods – at least for now. U.S. Trade Representative Robert Lighthizer issued his ruling Jan. 15, as part of a Section 301 investigation into international currency market actions by Vietnam’s state bank.
The action came after an investigation by USTR staff and a virtual public hearing late last month on the issue in which testimony from 16 representatives of manufacturers, trade groups and workers was mixed, with the majority weighing in against the idea of a tariff. In comments before the hearing, among those supporting a tariff was Cambria Company LLC, the largest U.S.-based manufacturer of quartz surfaces.
At issue is whether the State Bank of Vietnam used its management of the country’s currency – the dong – against the dollar to keep the dong’s value low and give a lower market value to Vietnamese goods in foreign markets. The report states that the findings of the USTR investigation support that Vietnam’s actions restrict U.S. commerce and are actionable under section 301 of the Trade Act. The U.S. is the largest export market for Vietnamese goods.
Previous USTR actions under Section 301 jurisdiction during the Trump administration include blanket U.S. tariffs on all Chinese goods of 25 percent. However, the new finding and report stop short of recommending immediate action against Vietnam.
Lotte Chemical announces that it will begin operating a third production line at its Belenco quartz surfaces plant by the end of January. Business Korea reports the line will have an annual capacity of 120,000 slabs. With the new line, the plant’s capacity will grow to 350,000 slabs annually.
Belenco was acquired by Lotte Chemical in early 2019, and is the largest manufacturer of engineered stone in Turkey. Lotte reports that it invested $30 million in the new production line. All of its production is done with engineered-stone technology from Breton S.p.a.
The Belenco plant is near Manisa, Turkey, about 185 miles southwest of Istanbul.
Stated Youngjun Lee, president of LOTTE Chemical Advanced Materials, “The new third line in our Belenco plant in Turkey is a major step to becoming the world’s leader in the manufacture of engineered stone over the next four years.”
Leon Zanger, a founder of the Walker Zanger luxury-surfaces stone brand, has passed away from complications of COVID-19. Zanger was 93. The company was founded in 1952 when he partnered with Marvin Walker to import stone from Portugal, beginning with marble for furniture tops. It grew to 14 showrooms from New York to California offering a premium selection of stone, tile and glass.
Zanger was born in 1927 in Antwerp, Belgium. He, his parents and sister escaped just days before the Nazi invasion in 1940, traveling through France, Spain, Portugal and what was then Portuguese East Africa before emigrating to the United States in 1944. Adept at languages, after joining the U.S. Army in 1945, Zanger served as a translator for the U.S. Military Tribunal in Nuremberg, Germany. After his military service, he graduated from New York University and married Hannah Loewe, herself a Holocaust survivor. She died in 2017.
The couple had two children, Jonathan Zanger and Claudia Springer. In a statement, they said that while the great love of his life was his family, his second love was the company he built, the people he employed and the friendships he made among clients and suppliers around the world. He was especially proud that his company had supported countless hundreds, and even thousands of families over the decades. In addition to his son and daughter, Zanger is survived by two grandsons.
Russ Berry, a former president of the International Surface Fabricators Association – the ISFA – has been named to the group’s Hall of Fame. Berry, president of ASST in McSherrytown, Pa., is a past recipient of several ISFA awards and has offered devoted service to the industry group, including hosting organization events. At ASST, he has also consistently showcased solid-surface design capability in complex high-end projects. Berry was inducted into the hall during the ISFA’s virtual annual meeting and conference in December.
Other 2020 ISFA honorees are:
Fabricator of the Year: The Countertop Factory Midwest in Addison, Ill., as Fabricator of the Year;
Moraware as Associate of the Year;
SpeedLabel from Fifth Gear Technology with the Innovator Award; and
INEOS as the winner of the Envision Award.
In news briefs around the industry:
• The Natural Stone Institute announces that Katie Jensen of Triton Stone Group ha been selected to join the association’s executive committee as board secretary. Michael Picco, the 2021 board president, says he looks forward to the experience, enthusiasm and innovation Jensen will bring to this leadership position. Along with Picco and Jensen, the current board executive committee includes Vice President Buddy Ontra and Treasurer Duane Naquin.
• CaraGreen Healthy Materials and OHM International announce a joint sales and marketing partnership for OHM to leverage its distribution infrastructure and brick-and-mortar locations throughout the East Coast with CaraGreen’s strong virtual and online presence, as well as its showrooms and warehouses, also along the East Coast. OHM brands that will now be promoted by CaraGreen include Geoluxe Pyrolithic Stone, Enigma Surfaces and Diresco Bio-UV Quartz. CaraGreen Brands that will now be promoted by OHM include Durat Solid Surface, PaperStone, GEOS Recycled Glass Surfaces and elemental surfaces.
• Hyundai L&C USA, LLC, announces that Brian Park has been promoted to CEO, effective January 1. Park joined Hyundai L&C USA in November of 2019 as the company’s executive vice president of sales, marketing and operations. In that role he has provided guidance and leadership that has driven the HanStone Quartz and Hanex Solid Surface brands to record sales. Park says one of his goals for the company is to establish its flooring and other interior product categories in the U.S.
• The Tile Council of North America now offers slip resistance testing of surfaces to meet new regulations contained in the 2021 Uniform Swimming Pool, Spa and Hot Tub Code. The code, approved by the International Association of Plumbing and Mechanical Officials, establishes, for the first time ever, a required test method and measurable criteria for suitable slip resistant surfaces around recreational aquatic areas. For more information, contact TCNA at testing@TCNAtile.com
Remember, you’ll find all the industry news in our online newsletter, Slab and Sheet. For the latest data on hard surface imports, to go to Hard Surface Report. And, keep an eye out for the upcoming January/February issue of Stone Update Magazine, which is available at magazine.stonemag.com. For more information on the items reported here, go to our webpage for links to notes on this broadcast.
I’m K. Schipper for Radio Stone Update and we’ll see you here again soon.