La-Z-Boy gets $3 million from duties
By Furniture Today Staff -- Furniture Today, December 14, 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 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Two years ago, the U.S. Congress repealed the controversial Byrd amendment, the provision that has sent the collected duties to companies that originally petitioned for the government to conduct the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.
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La-Z-Boy gets another $1.4 million in duties
Jan 18, 2010
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