La-Z-Boy receives $3 million in antidumping duties
Payment relates to below-market pricing of Chinese bedroom furniture
Furniture Today Staff -- Furniture Today, December 4, 2009
MONROE, Mich. — La-Z-Boy has received $3 million from the U.S. government in antidumping duties and will report the income on its fiscal third quarter statement, the company said in a filing with the Securities and Exchange Commission.
La-Z-Boy is among a number of U.S. manufacturers that have received funds from the duties, which are designed to offset the injury that Chinese producers have done to the U.S. industry by charging below-market prices on bedroom furniture shipments.
This year's payment is sharply lower than the $8.1 million La-Z-Boy reported receiving a year ago and the $7.1 million it got the year before that.
Two years ago, the U.S. Congress repealed the controversial Byrd amendment, the provision that has been responsible for sending the collected duties to companies that originally petitioned for the government to conduct the antidumping investigation. Duties paid on shipments made after Sept. 30, 2007, will go to the government and not the petitioners.
-
La-Z-Boy gets $3 million from duties
Dec 14, 2009 -
La-Z-Boy gets another $1.4 million in duties
Jan 8, 2010
Specialty retailer LoveSac introduces new store design
Kincaid Furniture honors Jimmy and Rosalynn Carter for Habitat work
Omnia Furniture ends relationship with Kathy Ireland Worldwide
Belfort Furniture, Lawrance Furniture are NHFA Retailers of Year
Singapore furniture show expecting increased turnout
Featured Company
-
Wright Labels
Bill and Tom Wright founded Wright of Thomasville in 1961 on the idea that printing was a creative medium and the belief that "a promise made is a promise kept." The Wright brothers focused their attention on providing exceptional printing for the... more
VIEW ALL GALLERIES
