Whirlpool Corporation Kicks Off 100th Anniversary Celebration
By Whirlpool Corporation, PRNEWednesday, November 10, 2010
Events Celebrate Global Appliance Leader's Heritage of Innovation and Unique Sense of Responsibility
BENTON HARBOR, Michigan, November 11, 2010 - 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.
(Logo: photos.prnewswire.com/prnh/20101108/CL95574LOGO ) (Logo: photos.prnewswire.com/prnh/20040202/DETU004LOGO )
"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:
-- Groundbreaking ceremony for a new, one million square foot, LEED-certified manufacturing facility to produce premium cooking products in Cleveland, Tenn. -- Groundbreaking ceremony for a new campus in the company's headquarters city of Benton Harbor, Mich.
Events planned throughout the year recognizing the accomplishments of
Whirlpool Corporation employees and partners around the world include:
-- The publication of an official history of Whirlpool Corporation; -- Launch of an employee volunteerism program rallying employees to contribute 100 volunteer hours; -- Select facility tours for members of the media and corporate partners.
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:
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 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.
US: Media Relations office, +1-269-923-7405, media at whirlpool.com; Europe: Giuseppe Geneletti, Director, Communications and Corporate Affairs, +39-0332-757-010, Giuseppe_Geneletti at whirlpool.com or Pierre Ley, Media Relations Manager, +39-0332-759-112, pierre_ley at whirlpool.com or Eileen Robinson, Manager, Communications and Corporate Affairs, +39-0332-759-353, eileen_robinson at whirlpool.com
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