The stock price of Keurig Green Mountain is falling after the company announced the recall of around 7.2 million hot beverage-brewing machines in North America.
Keurig Green Mountain is trading $135.55 per share, down by 2.69 % at the time of this writing around 11:06 in the morning in New York.
Keurig brewing machines recall details
The United States Consumer Product Safety Commission indicated that Keurig Green Mountain is recalling its Keurig MINI Plus Brewing System because it can overheat; spray hot liquid and burn consumers.
Keurig Green Mountain’s recall involves Keurig MINI Plus Brewing System with model number K10 (previously identified as model number B31). The affected brewing machines have serial numbers starting with “31” followed by a range of numbers printed on a white sticker at the bottom of the brewing machine.
The company is recalling 6.6 million units in the United States and 564,000 in Canada. Keurig Green Mountain said the recalled Keurig MINI Plus Brewing Systems are single-serve, hot-beverage brewers sold in 13 different colors with silver trim. The brewing machines have a “brew” button, three cup size brewing options and a removable drip tray.
Keurig Green Mountain said the recalled brewing machines were manufactured between December 2009 and July 2014. Consumers can determine the recalled units by checking the serial number on a white sticker located on the bottom of the brewer.
Consumers are advised to contact Keurig Green Mountain for a free repair of their brewing machines.
Keurig received reports of injury
Keurig Green Mountain received approximately 200 reports of hot liquid escaping out of the brewing machine. The reports included 90 burn-related injuries. The company reported 17 incidents of minor burns in Canada.
The company reported that its net sales from brewers and accessories during the fourth quarter ended September 27 declined 5%. The sales decline included a provision of $22 million related to consumer returns of Keurig MINI Plus Brewing Systems.
The recalled Keurig MINI Plus Brewing Systems were sold through a number of retailers including Kmart, Wal-Mart, Target and others. The brewers were manufactured in China and Malaysia.