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January 28, 2014
08:15 EDTWHRWhirlpool to no longer pursue current refrigeration appeal after ITC ruling
Whirlpool Corporation 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. 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. Whirlpool said, "Because of our actions, there is no longer any doubt that dumping occurred and is occurring, both for washers and refrigerators. 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. Since we filed the refrigerator case, the U.S. marketplace, the products, prices and the countries of supply have changed. Rather than pursue an appeal based on outdated data, we will put our energies toward continuing to monitor the U.S. appliance marketplace, evaluating potentially faster and more effective paths to achieve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."
News For WHR From The Last 14 Days
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September 1, 2015
06:03 EDTWHRWhirlpool confirms approach regarding possible offer for AGA
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06:02 EDTWHRAGA Rangemaster says receives approach for possible offer from Whirlpool
AGA Rangemaster announces that it has received an approach regarding a possible cash offer for the company from Whirlpool Corporation. The announcement of a firm offer by Whirlpool is subject to the satisfaction or waiver of a number of conditions including due diligence. In accordance with its obligations under the UK Takeover Code, the company has granted due diligence access to Whirlpool and is in discussions with Whirlpool regarding other aspects of the Possible Offer. Given the conditionality of the Whirlpool offer, the Board of AGA believes it is in the best interests of AGA Shareholders, taken as a whole, to ensure that the Middleby Transaction continues to be executed on the current timetable to avoid any delay to completion of that transaction should a firm offer from Whirlpool not be forthcoming. Accordingly, the Board of AGA continues to recommend the offer made by Middleby to AGA Shareholders.
05:57 EDTWHRWhirlpool volatility at upper end of range
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