Patty Davis of the Consumer Product Safety Commission said Mega Brands isn't the only toymaker to recall its magnetic toys. Costs related to the recalls will be reflected in fourth quarter 2007 financial results, that are slated to be released March 31. The recalled products represented sales of $7 million last year. Monday's recalled products were sold at toy stores around Canada and the United States, including Wal-Mart and Toys "R'' Us between January 2005 and December 2007. "While we investigated the complaints, we asked retailers to pull the products from shelves and once we realized that there was an issue we took this very cautious step of announcing a voluntary recall,'' Chizick said. The products are no longer in production but the company asked retailers two weeks ago to remove Magtastik and Magnetic Jr.
#ROSE ART MAGNETIX FREE#
In the case of the new recall, consumers are being instructed to return the affected toys to Mega Brands for a free replacement toy. The new product known as MagNext in which magnets are encapsulated in the plastic shells is set to hit store shelves this summer. The two earlier recalls cost tens of millions of dollars in expenses and litigation, and ravaged the company's share price. The company redesigned its Magnetix building system after one child died and several others were seriously injured after ingesting a baby Aspirin-sized magnet. set were designed following the 2005 US$350 million acquisition of Rose Art Industries. But Magtastik and its similar Magnetic Jr. The newly recalled products were produced as early as 2004. Consumer Product Safety Commission are aware of 44 reports in the United States of magnets coming loose, including one case of a three-year-old boy receiving medical treatment to remove a magnet from his nose and a report of an 18-month-old found with a magnet in his mouth but not swallowed. If you bend it enough the magnet can pop out,'' Mega Brands spokesman Harold Chizick said in an interview. The company said magnets in small flexible parts can detach and, if swallowed, can attract each other and cause intestinal perforations or blockages. pre-school toys were designed by Mega Brands. Unlike the two recalls in 20 of Magnetix construction sets, the Magtastik and Magnetix Jr. The "voluntary'' recall of 2.4 million units covers MagnaMan action figures and Magtastik and Magnetix Jr. Over the past year, shares have fallen from $26.87 to a low of $4.21. The move sent its battered shares close to a 52-week low as they lost nearly 14 per cent, or 71 cents to close at $4.40 on the Toronto Stock Exchange.
#ROSE ART MAGNETIX SERIES#
The Montreal-based company recalled two Chinese-made pre-school magnetic toys Monday after receiving a series of complaints about tiny magnets dislodging from their plastic casings. MEGA says it doesn’t owe the money, and claims in defense of at least one toy-injury suit that the blame lies with Rose Art.MONTREAL- The third recall of a Mega Brands magnetic toy has dealt the struggling toymaker an especially painful blow as it marks the first time that the product's faulty design can't be blamed on the previous owners. Rose Art’s former owners are suing MEGA, claiming the company failed to pay them $51 million as the deal required. Magnetix toys are manufactured by Rose Art Industries, a company that MEGA acquired in 2005. Despite that effort, the Times says CPSC records show MEGA “delayed answering the government’s requests for information, was uncooperative with the commission and violated the terms of one of the recalls.” Prodded by the CPSC, MEGA Brands has issued two voluntary recalls of older toys. Consumer Product Safety Commission lacks effectiveness to remove dangerous toys from retail stores.įour magnet injury suits are pending, and MEGA Brands of Montreal has paid $13.5 million to settle four lawsuits and 10 claims related to magnet injuries, the New York Times says. When a child swallows multiple magnets, they clump together in the digestive system, requiring surgery to remove.Ī suburban Seattle toddler who swallowed several magnets from the toy died on Thanksgiving 2005, according to a story in a Chicago Tribune series on problems with Magnetix. The suits claim magnets that hold the toy’s construction pieces together can fall out of their casings, the New York Times reports. Lawsuits against the distributor of Magnetix toys claim children who swallow magnets in the construction sets become seriously ill.
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