Dumping Washers: Whirlpool accuses Samsung, LG
The action comes as the company’s shares have slid more than 46% this year.
SEOUL:
Whirlpool Corporation on Friday accused two South Korean rivals, Samsung Electronics and LG Electronics, of dumping washing machines in the United States by selling them “at substantially less than fair value.” The action comes as the company’s shares have slid more than 46% this year because of weak demand resulting largely from high unemployment and a depressed housing market. It filed petitions with the US Department of Commerce and the US International Trade Commission seeking an investigation into its rivals’ clothes washers, which are made in South Korea and Mexico. On Friday, Whirlpool also alleged that South Korea is unfairly subsidizing washing machine exports, in violation of international trade law. An LG spokesperson said the company is reviewing the petitions and “strongly rejects” any suggestion that it sold clothes washers at dumped prices.
Published in The Express Tribune, January 1st, 2012.
Whirlpool Corporation on Friday accused two South Korean rivals, Samsung Electronics and LG Electronics, of dumping washing machines in the United States by selling them “at substantially less than fair value.” The action comes as the company’s shares have slid more than 46% this year because of weak demand resulting largely from high unemployment and a depressed housing market. It filed petitions with the US Department of Commerce and the US International Trade Commission seeking an investigation into its rivals’ clothes washers, which are made in South Korea and Mexico. On Friday, Whirlpool also alleged that South Korea is unfairly subsidizing washing machine exports, in violation of international trade law. An LG spokesperson said the company is reviewing the petitions and “strongly rejects” any suggestion that it sold clothes washers at dumped prices.
Published in The Express Tribune, January 1st, 2012.