The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Business Wire

Whirlpool Extends Financing Arrangement to Dealers Through 2016 - CSHPI to continue as preferred provider of inventory financing programs

Wednesday, December 07, 2011

Whirlpool Extends Financing Arrangement to Dealers Through 2016 - CSHPI to continue as preferred provider of inventory financing programs08:00 EST Wednesday, December 07, 2011 ST. JOSEPH, Mich. (Business Wire) -- Capital Solutions for the Home Product Industry (CSHPI) announced today that Whirlpool Corp. [NYSE: WHR] has extended CSHPI's contract as preferred provider of inventory floorplan financing to Whirlpool's U.S. dealers until 2016. CSHPI has been providing financing to Whirlpool dealers since 1957. Headquartered in Benton Harbor, MI, Whirlpool is the world's leading manufacturer of major home appliances under the Whirlpool, Maytag, KitchenAid, Jenn-Air, Amana and Gladiator brand names. Whirlpool also manufactures and markets Brastemp, Consul and Bauknecht-branded products in Latin America and Europe. “Strong business relationships are even more important in tough economic times. Our long history with the CSHPI team translates into added value to our customers,” said Sam Abdelnour, Whirlpool's vice president, North American Sales. “CSHPI's reliable support and creative financing solutions are key elements in our success. We look forward to continuing the relationship.” “We are very pleased that Whirlpool has chosen to extend our preferred provider relationship for another five years,” said James Morphey, senior vice president of CSHPI's appliance and electronics group. “The success of our long relationship is the result of working closely with Whirlpool and its trade partners to continually develop new programs that meet their needs.” About Whirlpool Corp. Whirlpool Corp. is the world's leading manufacturer and marketer of major home appliances, with annual sales of approximately $18 billion in 2010, 71,000 employees, and 66 manufacturing and technology research centers around the world. Whirlpool brand recognizes that consumers lead busy, active lives and continues to create solutions that help consumers optimize productivity and efficiency in the home. In addition to designing appliance solutions based on consumer insight, Whirlpool brand is dedicated to creating ENERGY STAR® qualified appliances like the new Duet® washer which uses 82% less water and 81% less energy than a traditional top load washer manufactured before 2004. Whirlpool is one of Habitat for Humanity's largest corporate partners, donating a refrigerator and range to every new Habitat for Humanity home built in North America. For more information on Whirlpool brand, please visit or find us on Facebook at Additional information about the company can be found at About Capital Solutions for the Home Products Industry Capital Solutions for the Home Products Industry (CSHPI) provided more than $5 billion in financing to 7,000 dealers, manufacturers and their distributors across the Americas in 2010. Programs include inventory and accounts receivable financing, private label financing, collateral management, e-commerce services and related financial products. Recognized as the global leader in distribution channel financing, CSHPI provides stock and display financing for thousands of dealers nationwide in industries as diverse as appliances and boats. CSHPI helps manufacturers, distributors and dealers to maximize sales and cash flow. For more information, visit Capital Solutions for the Home Products IndustryJames Morphey, 269-982-5549James.morphey@cshpi.comorMark Chesney312-441-7746