CONFORMED COPY
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) September 18, 1997
WHIRLPOOL CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 1-3932 38-1490038
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(State or other jurisdiction (Commision File (I.R.S. Employer
of incorporation) number) Identification No.)
2000 M63 North, Benton Harbor, Michigan 49022-2692
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(Address of principal executive officers) (Zip Code)
(616)-923-5000
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Registrant's telephone number, including area code
Item 5. Other Events
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On September 18, 1997, the registrant announced that it is taking several
significant steps to extend the company's global leadership position, as well as
to fundamentally change the economics of Whirlpool's business structure
worldwide. They include the following:
. Acquiring the majority interest in Brasmotor S.A., the company's
Latin American affiliate, for $217 million;
. Electing H. Miguel Etechenique, chairman and CEO of Brasmotor
S.A., to Whirlpool's Board of Directors;
. Selling the inventory and consumer financial business and certain
other assets of Whirlpool Financial Corporation, which will have
a positive impact of about 53 cents per share when completed;
. Eliminating about 4,700 positions in Asia, Europe and North
America, increasing efficiencies in European operations through
product consolidation and facility closings, while seeking
strategic alliances or other alternatives for two Chinese joint
ventures. A pre-tax charge of approximately $350 million will be
taken against third-quarter earnings, resulting in $180 million
of annual savings when fully implemented in year 2000.
Item 7. Financial Statements and Exhibits
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Exhibit 1
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Copy of a press release dated September 18, 1997 covering the Company's
recent announcement that several significant steps are being taken to extend
the company's global leadership position, as well as to fundamentally change the
economics of Whirlpool's business structure worldwide.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
WHIRLPOOL CORPORATION
Registrant
Date: September 19, 1997 By: /s/ Daniel F. Hopp
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Name: Daniel F. Hopp
Title: Vice President, General
Counsel and Secretary