By Nathalie Tadena
LG Electronics Inc. (066570.SE) and Sears Holding Corp. (SHLD)
have agreed to recall about 21,000 gas dryers due to a fire
hazard.
The U.S. Consumer Product Safety Commission said the gas valve
in the recalled LG Electronics and Sears' Kenmore Elite brand gas
dryers can fail to shut off properly. High temperatures inside and
on the exterior surface of the dryers can scorch the drum, as well
as burn or damage the dryer contents, posing a risk of burn, fire
and smoke inhalation, the CPSC said.
LG and Sears have received 141 consumer complaints about the
dryers continuing to heat after the drying cycle is complete. There
were three reports of minor burns to hands or arms and burnt or
scorched clothing was reported in more than 50 incidents.
The recalled products were sold nationwide from November 2009
through August 2010. The LG Electronics brand gas dryers were sold
by various appliance stores, including Sears, while the Kenmore
Elite brand dryers were sold only at Sears stores. The recalled
dryer costs between $650 and $1500 for the various models.
The CPSC said consumers should stop using the recalled dryers
immediately until repaired.
Sears shares closed at $56.39 and were unchanged after hours.
The stock is up 77% since the start of the year.
Write to Nathalie Tadena at nathalie.tadena@dowjones.com
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