Chinese toymaker Mattel has been dealt further blows, following more revelations about high lead levels in its paint. The company will recall more than 800 thousand units of Fisher Price toys and Barbie brand playsets. Barbie dolls are not under threat.
The US House of Representatives is to hold a subcommittee hearing on how to protect children from imported products containing lead paint, which has been linked to brain damage. Mattel’s CEO is Bob Eckert. He said: “I apologise to everyone involved. No-one likes to have recalls. But the fact is the safety of children is the most important thing here. So we want to inform the public of our new standards.”
During the past 50 days, Mattel shares fell by 20 percent. The company already said it would adjust second quarter results to include a charge of about 30 million dollars related to recall and testing costs. Mattel will report third quarter earnings around the middle of October. The toys were all shipped from China to the west over the past year. A spate of toy recalls has sparked concern over the quality of products made in China.