La-Z-Boy Gets $3 Million Anti-Dumping Duties

Posted by MCC on December 8th, 2009 at 07:00am

The U.S. government has given La-Z-Boy $3 million in funds from the anti-dumping duties. In a filing with the Securities and Exchange Commission, the company announced that the funds will be reported on the their statement for the third quarter.

La-Z-Boy is just one of a number of manufacturers in the United States that received funds from the duties. These duties are designed to offset the damage that has resulted in Chinese producers charging prices on bedroom furniture that is way below market prices.

The duties payment is drastically lower than the company received a year ago which surpassed $8 million. U.S. Congress repealed the Byrd amendment two years ago that was responsible for sending the duties to the companies that had originally petitioned for an anti-dumping investigation.

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