CORMETECH’s Foreign Trade Zone Site Request Approved

Posted by Monday, August 24, 2015 11:37:00 AM Categories: FTZ 93

     (Durham, N.C.): U.S. companies competing in a global economy routinely seek out ways to level the playing field and gain advantage. In the region, a growing number of companies are reaping benefits by conducting business in the region’s Foreign Trade Zone #93; the latest of these is CORMETECH, Inc. A worldwide leader in the manufacture of Selective Catalytic Reduction (SCR) technology for the reduction of NOx emissions, CORMETECH is located in Durham’s Treyburn Corporate Park and has received approval for a Subzone with production authority at its Durham and Butner facilities, after completing an internal benefit analysis and the federal approval process.

     The goal of the Foreign-Trade Zone program is to offset customs advantages available to overseas producers competing with domestic industry. The US FTZ Board and the FTZ #93 Rates, Tariff and Legal Review Board require that zone activities result in significant public benefit and a net positive economic impact.

     In announcing approval of the CORMETECH subzone, Tom White, Chairman of the Rates, Tariff and Legal Review Board for FTZ #93, stated, "CORMETECH is a poignant example of a domestic/international enterprise producing an industrial pollution abatement device with worldwide application and relevance. Given the recent announcement about more stringent carbon emissions standards, our FTZ #93 Board is especially delighted to help facilitate the potential expansion of this advanced manufacturing installation.

     Triangle J Council of Governments is the grantee of Foreign Trade Zone #93, a full-service, multi-site zone covering a 14-county region. Its permanent magnet site is in World Trade Park near Raleigh-Durham International Airport. Additional magnet sites are located in the Holly Springs and Imperial Center business parks. Usage driven sites and subzones are authorized for Dudson USA Inc., Southern Lithoplate, Merck (zones in Durham and Wilson), Revlon and GlaxoSmithKline. Interested businesses of any size can learn more at http://www.tjcog.org/foreign-trade-zone-93.aspx, where they can also estimate their potential savings by operating with foreign-trade zone status. The administrator of FTZ #93, Renée Boyette, welcomes inquiries and can be reached at rboyette@tjcog.org or 919.558.9403.

 

About Foreign Trade Zones

The Foreign-Trade Zone Program was created by the U.S. government to facilitate international trade and increase the global competitiveness of U.S.-based companies. The program, which has existed since the 1930s, continues to thrive and change to better meet the needs of American companies in the global economy.

A Foreign Trade Zone is a very secure area, in or near a port of entry, which is considered outside of U.S. “commerce” but is under U.S. Customs supervision. Domestic and foreign merchandise may be admitted to the zone without a formal Customs entry. Goods in the zone may be sorted, manipulated, used in manufacturing, inspected, combined with other domestic or foreign materials, displayed for sale and re-exported without payment of duty.

Activities Permitted In A Foreign-Trade Zone

Merchandise entering a Zone may be:

Assembled

Tested

Sampled

Relabeled

Manufactured*

Stored

Salvaged

Processed

Repackaged

Destroyed

Mixed

Manipulated

*The user must receive special approval from the FTZ Board for production authority.

Operating within an FTZ carries numerous benefits:

  • Deferral, reduction and possible elimination of duties
  • Tighter inventory control that may virtually eliminate year-end inventory loss adjustments
  • Potential direct delivery benefit reduces long hold times at crowded ports of entry

 

About CORMETECH

CORMETECH is headquartered in Durham, North Carolina, USA, with manufacturing facilities in Durham and Cleveland, Tennessee as well as sales offices in Wiesbaden, Germany and Beijing, China. Located near Research Triangle Park in North Carolina, CORMETECH’s Durham plant manufactures and tests engineered SCR catalyst used to reduce emissions from coal- and gas-fired power generation, chemical process industries, petroleum refineries, and diesel engines.

CORMETECH is the industry’s leading technology solution provider, developing and applying highly reliable and cost effective Selective Catalytic Reduction (SCR) performance with unparalleled customer service. CORMETECH’s state-of-the-art laboratory can test micro, partial, and full-sized catalysts of many manufacturers for performance characterization. Every day, all over the world, CORMETECH delivers cleaner air through innovation.

 

About Triangle J Council of Governments

Triangle J Council of Governments (TJCOG) is the lead regional planning organization for North Carolina’s Region J, encompassing Chatham, Durham, Johnston, Lee, Moore, Orange and Wake counties. TJCOG promotes collaboration among local governments, stakeholders and partners, tackling challenges that cross jurisdictional lines.

TJCOG leads regional planning and collaborative efforts in land use and infrastructure, water resources, energy efficiency, waste reduction and air quality. Through the Triangle J Area Agency on Aging, the organization also coordinates county-based services for the region’s aging population across the seven-county region. For more about TJCOG, go to www.tjcog.org.

FTZ #93:

     Renée Boyette

     Administrator, FTZ #93

     Triangle J Council of Governments

     Email:  rboyette@tjcog.org

     Tel:  919.558.9403

CORMETECH:

     Natalie Sharp

     Logistics and Import/Export Lead

     CORMETECH, Inc.

     Email: SharpNP@CORMETECH.com

     Tel: 919.620.3039