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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 Rather than pursue an appeal based on outdated data, we will put our energies toward continuing to monitor the U.S. appliance marketplace, evaluating potentially faster and more effective paths to achieve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."
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April 16, 2014
08:16 EDTWHRAHAM says March major appliance wholesale shipments up 8.9%, says Longbow
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April 14, 2014
19:20 EDTWHRWhirlpool approves $500M share repurchase plan
Whirlpool announced that its board approved a new $500M share repurchase authorization. The company completed its previously authorized repurchase program in December.
19:19 EDTWHRWhirlpool boosts dividend 20% to 75c per share
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