Kicks Off 100th Anniversary Celebration
BENTON HARBOR, Michigan, Nov. 11, 2010 /PRNewswire-Asia/ -- Jeff M. Fettig, chairman and chief executive officer of Whirlpool Corporation (NYSE: WHR), will ring The Closing Bell(R) at the New York Stock Exchange today. The event will cap off the first day of Whirlpool Corporation's year-long celebration, leading up to the company's 100th anniversary on November 11, 2011.
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"It is appropriate for our company to begin this historic year with the New York Stock Exchange," said Jeff M. Fettig, Whirlpool Corporation chairman and chief executive officer. "Our company held its first stockholders' meeting on November 11, 1911. For 99 years, we have worked diligently to create long-term value for our shareholders and it is only fitting that we would begin our 100th year in business right here on the trading floor of the NYSE. Whirlpool Corporation has had a remarkable and inspiring history."
Whirlpool Corporation stock is an enduring bellwether on the NYSE, having first listed its shares there 55 years ago. Its stock is also an important part of the S&P 500 index, one of the principal performance benchmarks used by equity investors.
As the world's leading manufacturer of major home appliances, Whirlpool Corporation's continued investment in consumer-relevant innovation and its consumer-preferred brands and globally diverse product offerings continues to position the company for growth.
Whirlpool Corporation's strengths are reflected in its long-term share performance. During the 10-year period since 2000, Whirlpool Corporation stock appreciation outpaced both the Dow Jones Industrial Average and the S&P 500. Its organic growth has been complemented by targeted acquisitions to consistently expand its global reach, creating an industry leader with its brands and products now sold in more than 130 countries.
Whirlpool Corporation's senior leadership team will participate, along with Mr. Fettig, in today's closing bell ceremony.
For press materials, logos and images related to Whirlpool Corporation's year-long celebration of its 100th anniversary visit: http://www.whirlpoolcorp.com/100.
About Whirlpool Corporation
Whirlpool Corporation is the world's leading manufacturer and marketer of major home appliances, with annual sales of approximately $17 billion in 2009, 67,000 employees, and 67 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. Additional information about the company can be found at http://www.whirlpoolcorp.com.
About Whirlpool Corporation's 100th Anniversary
Founded on November 11, 1911, Whirlpool Corporation has influenced home and family life during the last century. The company is driven by the belief that everyone needs a comfortable place to call home and has a 100 year history of creating better ways of cooking, cleaning, refrigerating and storing. Whirlpool Corporation is focused on improving lives one person, one family, one home, one community at a time.
This document contains forward-looking statements about Whirlpool Corporation and its consolidated subsidiaries ("Whirlpool") that speak only as of this date. Whirlpool disclaims any obligation to update these statements. Forward-looking statements in this document may include, but are not limited to, statements regarding expected earnings per share, cash flow, productivity and material and oil-related prices. Many risks, contingencies and uncertainties could cause actual results to differ materially from Whirlpool's forward-looking statements. Among these factors are: (1) changes in economic conditions which affect demand for our products, including the strength of the building industry and the level of interest rates; (2) the effects of the global economic crisis on our customers, suppliers and the availability of credit; (3) Whirlpool's ability to continue its relationship with significant trade customers, and the ability of these trade customers to maintain or increase market share; (4) intense competition in the home appliance industry reflecting the impact of both new and established global competitors, including Asian and European manufacturers; (5) the ability of Whirlpool to manage foreign currency fluctuations; (6) product liability and product recall costs; (7) litigation and legal compliance risks; (8) the ability of Whirlpool to achieve its business plans, productivity improvements, cost control, leveraging of its global operating platform, and acceleration of the rate of innovation; (9) inventory and other asset risk; (10) fluctuations in the cost of key materials (including steel, oil, plastic, resins, copper and aluminum) and components and the ability of Whirlpool to offset cost increases; (11) the ability of suppliers of critical parts, components and manufacturing equipment to deliver sufficient quantities to Whirlpool in a timely and cost-effective manner; (12) health care cost trends, regulatory changes and variations between results and estimates that could increase future funding obligations for pension and other postretirement benefit plans; (13) Whirlpool's ability to obtain and protect intellectual property rights; (14) information technology system failures and data security breaches (15) global, political and/or economic uncertainty and disruptions, especially in Whirlpool's significant geographic regions, including uncertainty and disruptions arising from natural disasters or terrorist attacks; (16) the effects of governmental investigations or related actions by third parties; (17) the impact of labor relations; (18) our ability to attract, develop and retain executives and other qualified employees; (19) changes in the legal and regulatory environment, including environmental and health and safety regulations. Additional information concerning these and other factors can be found in Whirlpool Corporation's filings with the Securities and Exchange Commission, including the most recent annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K.
