LG To Appeal Ruling That Imports Hurt U.S. Business
WASHINGTON (AP) — LG Electronics Inc. said Friday that it will contest a finding that U.S. rivals such as Whirlpool Corp. are being hurt by imports of bottom-mount refrigerators from South Korea and Mexico.
The U.S. International Trade Commission said on Friday that there is a "reasonable indication" that the U.S. appliance market is being materially injured by the imports.
As a result, the Commerce Department will continue its countervailing duty investigation on imports of the refrigerators from South Korea, and its antidumping duty investigations on imports of the products from South Korea and Mexico. Its preliminary countervailing duty ruling is due June 23, while the preliminary antidumping duty ruling is expected by Sept. 6.
LG said it disagrees with the finding and will aggressively contest it during the final determination phase. Bottom-mount refrigerators have the freezer below the fresh food compartments.
Whirlpool said it is pleased with the ITC's preliminary finding.
"Whirlpool will continue to cooperate fully with the ITC and the Department of Commerce throughout the remainder of these investigations," spokeswoman Jill Saletta said in a statement.
LG's North American subsidiary, LG Electronics USA Inc., is based in Englewood Cliffs, New Jersey.
On Tuesday, Whirlpool also said it received a favorable decision in a court case brought by LG that sought to ban it from using the word "steam" to describe its steam dryers.
Shares of Whirlpool, based in Benton Harbor, Michigan, gained $1.80 to $87.20 in afternoon trading.