A Statement of Qingdao Yunlu New Energy Technology Co., Ltd. on USITC’ Institution of 337 Investigation for Chinese Companies’ Exportation of Amorphous Metal Products into the United States Filed by METGLAS, INC. and HITACHI METALS, LTD.

On October 26th, 2017, Qingdao Yunlu New Energy Technology Co., Ltd. (Our Company) are noticed that the USITC has voted to institute an investigation of certain amorphous products exported and sold in the United States by Chinese companies based on a complaint filed by METGLAS, INC., and Japanese company HITACHI METALS, LTD. Our company has declared our attitudes on the groundless accusation of METGLAS, INC., and HITACHI METALS, LTD on September 22nd. We regret to hear that USITC has decided to institute the investigation. 

Our Company reaffirms that we fully owns the intellectual property rights on our amorphous metal ribbon technology (AMR). Our company has always devoted huge effort to independent research and technology development, and the development of related products is the result of our own long-term and continuous investment. 

In view of the complaints’ false accusation, our company has already hired professional lawyers to prepare for the investigation and determinedly fight for our legal rights. Thereby, we will actively take all measures according to relevant international laws and rules, to strive for fair treatment and legal rights of Chinese AMR industry.