Pool cleaning robots company Maytronics (TASE: MTRN) has announced a recall for its cordless hand-held pool cleaner Niya Aquasweep S10 because of fears that it could overheat and catch fire. The company, controlled by Kibbutz Yizre’el, says that anyone who possesses the product should stop using and charging it and call the company to have it collected.
The product in question is a black cleaner, catalogue number IL-99997301, made in China by Hongkong Yimu Technology Limited under its Lydsto brand, and imported and sold in Israel by Maytronics between April 23 and August 14, 2026.
According to the company’s announcement, in a stress test by the manufacturer it emerged that in some devices there could be a mechanical fault in the product’s casing. As a result, cracks could appear allowing water to penetrate into the motor unit, which could cause an electrical short circuit, overheating, and in extreme cases the product could catch fire.
The recall announcement was published in liaison with the standards commissioner at the Ministry of Economy and Industry.
A challenging period
The recall comes at a particularly challenging time for Maytronics. The company, which was one of the most prominent kibbutz industry firms in Israel, reaching a peak market cap of NIS 9 billion in 2021, has seen its business and its share price decline steeply in the past few years. In 2025, it had revenue of NIS 1.4 billion and posted a loss of NIS 228 million, among other things because of write-downs of stocks and assets.
The weakness has continued into 2026. Revenue in the second quarter of this year was NIS 437.5 million, 15% less than in the corresponding quarter, and the company posted a net loss of NIS 8 million. The company cited weakness in the market for cleaning devices for private pools, growing competition, a fall in sales in Europe, and operational difficulties.
The company is carrying out further plans to increase efficiency and boost its liquidity, and it is also in negotiations with private equity firm FIMI Opportunity Funds on investment, which would help it to deal with debt of some NIS 600 million. If the negotiations mature into a deal, Kibbutz Yizre’el is likely to lose control of the company it founded four decades ago.
Published by Globes, Israel business news - en.globes.co.il - on September 23, 2026.
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