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Fight Fake Products

Fight Fake Products

Fight Fake Products

Have you heard of the “Fight Fake Products” Initiative?

Fight_fake_products

Steel producers met in December of 2015 to form a group and band together to fight fake products. Counterfeiting and forgery are becoming big problems in the steel industry. The production of these materials is a risk to the environment, as they are fabricated of inferior material and can fail during use and cause damage to the environment.

The Fight Fake Products initiative unites several companies as one voice in an effort to stop counterfeiting and forgery in the steel industry.

Havocscope, a website that deems themselves “a sort of Consumer Report for the underworld” estimates total worldwide counterfeit goods to be valued at $653.77 Billion. The United States tops this list, therefore experiencing the greatest loss by a landslide at $225 Billion. The second greatest loss is by Mexico at $75 Million.

Top 10 Losses to Counterfeit Goods by Country (According to havocscope.com):

1. United States $225 Billion
2. Mexico $75 Billion
3. Japan $75 Billion
4. China $60 Billion
5. Germany $32.25 Billion
6. Canada $30 Billion
7. United Kingdom $21.6 Billion
8. Brazil $15 Billion
9. South Korea $14.2 Billion
10. Paraguay $12 Billion

Here are the companies involved in the Fight Fake Products Initiative:

Companies

Rest assured we fully support this initiative at PM International Suppliers, as we take every effort to ensure the material we supply is genuine. Each order comes with certification papers, complete with custom annotations to correspond with your order specifications.

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