Cybex International, Inc. (NASDAQ:CYBI) Recalls Benches After CPSC Call


Dallas, Texas 01/10/2014 (FINANCIALSTRENDS) – Cybex International, Inc. (NASDAQ:CYBI) recalled one of its premier products- Freeweight benches, due to technical issues. The Massachusetts-based sports equipment manufacturer is recalling 234 of these benches according to Consumer Product Safety Commission (CPSC).

The model which is at the center of the controversy is, the Olympic Decline free-weight bench.

Cybex International, Inc.(NASDAQ:CYBI), which are produced in the US, were designed explicitly for commercial purposes in gyms and other professional use scenarios. Costing over $1,100 the Olympic Decline free-weight bench was available in three varieties. Most of the sales of this series were completed between December 2008 to September 2013.

Cybex International, Inc.(NASDAQ:CYBI) received over nine notifications of the bench frames collapsing forward on those using the free-weight benches. The point of weakness in the weld-points was reported as the cause of the collapse. All the nine reports of collapse did not cause any injuries. However, following CPSC notification, Cybex has directed consumers to stop  using these benches and co-ordinate with customer care to ensure inspection of the frames for likely cracks or frailty at the welding points. The company has offered to repair such issues free of cost.

Cybex International, Inc.(NASDAQ:CYBI) is one of the major names in the making and design of sporting and outdoor equipment and accessories. The core product lines for the company are in two categories – fitness equipment and strengthening equipment. These are developed and designed as per cardiovascular guidelines. The company operates essentially for commercial establishments and lesser in the retail consumer market segment.

Cybex International Inc, despite carrying a premium name-tag is not new to lawsuits, such as the 2011 incident in New York, when a women received settlement following jury support, when an equipment by the maker-toppled over her. Apparently, the recall of the current free-weight benches was a quick before any further untoward incidents were reported.