Whirlpool Corporation Confirms 1999 Settlement of Litigation Against Former Subsidiary.Business Editors BENTON HARBOR Benton Harbor, city (1990 pop. 12,818), Berrien co., SW Mich., on Lake Michigan at the mouth of the St. Joseph River opposite St. Joseph; inc. 1869. A long-time fruit industry, tourist, and industrial center, noted for appliance manufacturing, the city declined in , Mich.--(BUSINESS WIRE)--March 1, 2000 Whirlpool Corporation Whirlpool Corporation (NYSE: WHR) is the world's leading manufacturer and marketer of major home appliances,with annual sales of approximately $18 billion, more than 73,000 employees, and more than 70 manufacturing and technology research centers around the world. (NYSE NYSE See: New York Stock Exchange :WHR WHR World Health Report WHR Waist-to-Hip Ratio WHR Welsh Highland Railway (UK) WHR Western Hemisphere Region WHR Watt Hour WHR Witch Hunter Robin (anime) WHR Waste Heat Recovery ), in response to published reports, today confirmed that litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. against its former banking subsidiary was settled late last year. Whirlpool sold its ownership interest in the bank in January 1998. The litigation had involved claims related to the financing of consumer purchases of home satellite dish systems and other products, neither manufactured nor sold by Whirlpool or any of its affiliates. The company also confirmed that the 1999 settlements were immaterial to it from a financial standpoint and would have no effect on its 2000 financial results. Whirlpool Corporation is the world's leading manufacturer and marketer of major home appliances. Headquartered in Benton Harbor, the company manufactures in 13 countries and markets products under 11 major brand names in more than 170 countries. Additional information about the company can be found on the Internet at www.WhirlpoolCorp.com. |
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