Whirlpool Turns Focus To Future Following Fair Trade Victories
BENTON HARBOR, Mich., Jan. 28, 2014
BENTON HARBOR, Mich., Jan. 28, 2014 /PRNewswire/ --Whirlpool Corporation
(NYSE: WHR) today announced that the company had achieved its goal of bringing
unlawful appliance trade activity to the attention of the U.S. government. As
a result, the company will no longer pursue the current refrigeration appeal
following a favorable ruling from the U.S. Court of International Trade
earlier this month.
(Logo: http://photos.prnewswire.com/prnh/20040202/DETU004LOGO )
"Because of our actions, there is no longer any doubt that dumping occurred
and is occurring, both for washers and refrigerators," said Jeff Fettig,
chairman and chief executive officer of Whirlpool Corporation. "We are
encouraged that the Court ruled there were mistakes made by the Trade
Commission in not finding injury in the refrigeration case, particularly after
the Commission determined that U.S. appliance workers and consumers were
harmed by foreign competitors' unlawful washer trade actions."
Earlier this month, Whirlpool won a favorable ruling from the U.S. Court of
International Trade, in which the court agreed that significant errors were
made in a 2012 trade remedy decision by the U.S. International Trade
Commission. The case involved refrigerators imported from South Korea by LG
and Samsung between 2008 and 2011. In closing a proceeding based on old market
data that could take several years to conclude before trade remedies go into
effect, the company remains committed to assessing all appropriate actions to
ensure a level competitive playing field in today's marketplace.
"Since we filed the refrigerator case, the U.S. marketplace, the products,
prices and the countries of supply have changed," continued Fettig. "Rather
than pursue an appeal based on outdated data, we will put our energies toward
continuing to monitor the U.S. appliance marketplace, evaluating potentially
faster and more effective paths to achieve trade remedies and, when necessary,
taking actions to defend U.S. manufacturing, innovation and consumers. Our
focus remains on winning with consumers through developing innovative
products, building strong brands and executing our long-term growth strategy
with a commitment to ensuring that trade law is enforced for all."
For additional information about the company's innovation leadership and
actions to defend U.S. jobs, please visit http://whirlpoolcorp.com/america.
About Whirlpool Corporation
Whirlpool Corporation is the world's leading global manufacturer and marketer
of major home appliances, with annual sales of approximately $18 billion in
2012, 68,000 employees, and 65 manufacturing and technology research centers
around the world. The company markets Whirlpool, Maytag, KitchenAid, Jenn-Air,
Amana, Brastemp, Consul, Bauknecht and other major brand names to consumers in
nearly every country around the world. Additional information about the
company can be found at http://www.whirlpoolcorp.com.
SOURCE Whirlpool Corporation
Contact: Whirlpool Corporation, Media: 269/923-7405, Media@Whirlpool.com;
Financial: Joe Lovechio, 269/923-2641, Investor_Relations@Whirlpool.com
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