Whirlpool Corporation Named to Ocean Tomo 300Â® Patent Index for Fifth Consecutive Year
BENTON HARBOR, Mich., Nov. 10, 2010 /PRNewswire/ — Whirlpool Corporation (NYSE: WHR) today announced it was named to the 2010/2011 Ocean Tomo 300 Patent Index(TM), the first equity index based on the value of corporate intellectual property, for the fifth consecutive year. The Index is priced and published by NYSE Euronext.
“The Ocean Tomo 300 list validates the value of intellectual capital and innovation,” said Jeff M. Fettig, Whirlpool Corporation’s chairman and CEO. “On the eve of our 100th Anniversary celebration kickoff, we’re especially pleased that our long-term strategic commitment to delivering innovations consumers desire through our unmatched portfolio of brands is again being acknowledged. Our consistent efforts to produce intellectual property that help improve consumers’ homes and lives will help ensure that we continue to deliver positive results for our shareholders.”
The Ocean Tomo 300 Patent Index(TM) is the first major broad-based market equity to be launched in 35 years, and follows the progression from the Dow Jones Industrial Average in 1896, to Standard & Poor’s 500 in 1957 and then to the NASDAQ Composite Index in 1971. The Index represents 300 companies that own the most valuable patents relative to their book value and will focus investors on intellectual property as a distinct asset class.
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.
Whirlpool Additional Information
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.
SOURCE Whirlpool Corporation