BENTON HARBOR -- Whirlpool Corp. announced Wednesday that the United States International Trade Commission unanimously ruled that Samsung and LG had unlawfully priced their washing machines, hurting the U.S. clothes washer industry.
The vote was the ITC's final ruling in the international trade investigations related to clothes washers from South Korea and Mexico. Whirlpool filed anti-dumping and anti-subsidy petitions in December 2011.
As a result of today's vote, the U.S. government will impose duties on imports of the unlawfully traded clothes washers.
Whirlpool (NYSE: WHR) said it "welcomes today's decision." This vote follows a U.S. Department of Commerce ruling in December that foreign manufacturers were selling clothes washers in the U.S. at less than fair value.
"The actions taken today by the U.S. government represent a great victory for the U.S. appliance industry, especially for our employees and consumers," said Marc Bitzer, president of Whirlpool North America. "We invest in U.S. manufacturing because we believe in our 22,000 U.S. employees and the innovative products we produce. Today the government made the right decision. We expect this ruling will restore a level competitive playing field that enables Whirlpool and other U.S. manufacturers to continue investing in America to produce the high-quality, innovative products that consumers deserve."
As a result of today's final affirmative ruling, U.S. Customs will impose duties on imports of the unlawfully traded clothes washers based on the following cash deposit rates set by the DOC in December 2012:
Among South Korean producers, LG will face a 13 percent duty, Samsung 11 percent and Daewoo a whopping 151 percent. Among Mexican producers, Samsung will face a 76 percent duty and Electrolux a 36 percent duty.
For additional information about Whirlpool's actions to defend U.S. jobs, please visit http://whirlpoolcorp.com/america.
Whirlpool had sales of approximately $19 billion in 2011, has 68,000 employees, and has 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.
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