Shares of Wesfarmers Rise After Unit Recalls Product

MT Newswires Live

Dec 09

Shares of Wesfarmers (ASX:WES) rose nearly 1% in Tuesday trade after the ministry that oversees product safety in New Zealand said in a late Monday statement that the company's Kmart unit recalled Frozen, Bluey, and Paw Patrol-branded sensory activity sets.

The products sold between Oct. 8 and Nov. 17 may cause a risk to health, as asbestos, a prohibited substance in New Zealand, was detected in some samples after laboratory testing, per the statement.

Respirable asbestos was not detected in any of the tested samples, the Product Safety Ministry said.

Customers were advised to immediately stop using the products and to follow the specialist advice on safe containment, removal, and disposal.

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