Events Celebrate Global Appliance Leader's Heritage of Innovation and Unique Sense of Responsibility
BENTON HARBOR, Michigan, Nov. 11, 2010 /PRNewswire-Asia/ -- Whirlpool Corporation (NYSE: WHR) kicks off today its year-long 100th anniversary celebration with a series of events - including the ringing of the New York Stock Exchange's Closing Bell - designed to remember its heritage, reinforce its core values, recognize employees, and reinforce its potential for growth.
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"Whirlpool Corporation's history has been guided by principles of integrity and perseverance ever since Lou Upton, Emory Upton and Lowell Bassford launched the first electric wringer washing machine in 1911," said Jeff M. Fettig, Whirlpool Corporation chairman and chief executive officer. "Through the Great Depression, two World Wars, and the rapid economic changes and challenges of more recent years, those ideals have guided our growth from a small washing machine company to a diversified, multi-billion-dollar global operation, and they will continue to guide us into our second century."
Through a combination of organic growth and strategic acquisitions during the last century, Whirlpool Corporation has expanded globally, building legacies of sound financial performance, employee empowerment, consumer-driven innovation and social corporate responsibility that includes a commitment to sustainability and the environment. All the while, the company has been steadfast in its commitment to improve home and family life.
Other events planned for the first day of this year-long centennial celebration include:
Events planned throughout the year recognizing the accomplishments of Whirlpool Corporation employees and partners around the world include:
Alongside its focus on product innovation, Whirlpool Corporation is celebrating its ongoing responsibility to society. "In its second century, Whirlpool will continue to be at the forefront of corporate social responsibility," said Fettig. The company has a well-established history of supporting mentoring projects, diversity networks, and community development efforts and it plans to build on these efforts going forward.
One of the most visible of these is its partnership with Habitat for Humanity International, in which employees from Michigan, to Europe, to India have helped provide affordable housing to more than 55,000 families around the world, donated more than 110,000 appliances and volunteered thousands of hours since 1999. Starting in 2011 Whirlpool will support every habitat for humanity home built around the globe. "This type of activity is an essential part of Whirlpool Corporation's character, which has been and will remain crucial to its success," said Fettig.
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 focusing 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.
