La-Z-Boy expects to collect $900,000 from import duties

Funds go to supporters of antidumping petition

Thomas Russell -- Furniture Today, December 7, 2010

MONROE, Mich. — La-Z-Boy expects to collect $900,000 in Continued Dumping and Subsidy Offset Act funds distributed this year, the company reported in a filing with the Securities and Exchange Commission.

U.S. Customs and Border Protection distributes the CDSOA funds each year to companies that supported an antidumping petition.

The monies represent duties collected on Chinese-made bedroom furniture prior to Oct. 1, 2007, which are available to La-Z-Boy's case goods divisions. The duties are aimed at leveling the playing field for domestic producers injured by unfairly priced imports.

The company reported that it has already received $600,000 of the total and expects to receive the remainder by year end. The income will be reported in its fiscal third quarter financial statement.