Whirlpool Corporation Is Pleased With U.S. International Trade Commission's Preliminary Affirmative Finding That Imports of Large Residential Clothes Washers Are Harming U.S. Appliance Industry
BENTON HARBOR, Mich., Feb. 10, 2012 /PRNewswire/ -- The U.S. International Trade Commission (ITC) voted today that imports of large residential washers from South Korea and Mexico -- including imports by Samsung Electronics (Samsung) and LG Electronics (LG) -- are harming the domestic appliance industry in the United States. This preliminary vote was taken as a result of the anti-dumping petition filed by Whirlpool Corporation against large residential washers from South Korea and Mexico, and a companion countervailing duty petition against the same products from South Korea.
"Whirlpool Corporation is pleased with the ITC's preliminary affirmative injury determination," spokesperson Kristine Vernier said. "This decision by the ITC validates the actions we've taken to protect the U.S. domestic appliance industry, our 23,000 U.S. employees and the communities in which they work."
Whirlpool Corporation filed its petitions with the ITC and U.S. Department of Commerce (DOC) on December 30, 2011, to promote a fair and open global trading system, to protect American jobs and to ensure its ability to continue to innovate and invest in the United States. Of the products Whirlpool makes, more than 80 percent of those sold in the U.S. are made in the U.S.
"In the United States, the products affected by this case are made in Clyde, Ohio at the world's largest washing machine plant. More than 3,500 workers at the plant demonstrate the vitality of American manufacturing every day," said Vernier.
Whirlpool has a 100-year history of producing innovative products and leads the industry in advancements in energy efficient appliances. In 2011, a leading consumer publication awarded 10 best buy designations to Whirlpool Corporation laundry products.
The company will continue to cooperate fully with the ITC and the DOC throughout the remainder of these investigations which are expected to run through February 2013.
ANTICIPATED DECISION DATES FOR INVESTIGATIONS (assuming full extension)
| May, 2012 |
U.S. Department of Commerce releases preliminary countervailing duty determination |
| July, 2012 |
U.S. Department of Commerce releases preliminary anti-dumping determination |
| December, 2012 |
U.S. Department of Commerce expected to release final determinations |
| February, 2013 |
U.S. International Trade Commission expected to release its final determination |
| February, 2013 |
Final orders published upon issuance of final affirmative determinations from U.S. Department of Commerce and U.S. International Trade Commission |
For additional information and to view the petition, please visit http://whirlpoolcorp.com/facts.
About Whirlpool Corporation
Whirlpool Corporation is the world's leading manufacturer and marketer of major home appliances, with annual sales of approximately $19 billion in 2011, 68,000 employees, and 66 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.
This document contains forward-looking statements. Actual events or results may differ materially from those statements. For information about the factors that could cause such differences, please refer to our Annual Report on Form 10-K for the year ended December 31, 2010, including the information set forth under the caption "Risk Factors."
CONTACT:
Media: 269-923-7405 or [email protected]
Financial: Angela Hersil, 269-923-2641 or [email protected]
SOURCE Whirlpool Corporation
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