The Wall Street Journal: Yum Brands, McDonald’s halt China meat purchases

By Laurie Burkitt


Bloomberg News

A KFC outlet in Beijing.

BEIJING — Yum Brands Inc. and McDonald’s Corp. suspended meat purchases in China from a Shanghai-based, U.S.-owned supplier that is under investigation in the country for allegedly selling expired chicken and beef.

Yum Brands /quotes/zigman/303422/delayed/quotes/nls/yum YUM +0.53%  said in a statement Sunday on its official microblog that it halted meat orders from Shanghai Husi Food Co. for its KFC and Pizza Hut chains across the country.

McDonald’s /quotes/zigman/233369/delayed/quotes/nls/mcd MCD +0.63%  also said on its microblog Sunday that it stopped using the supplier amid safety concerns and is investigating the company and its affiliates.

China’s official Xinhua News Agency said Monday that government officials suspended the operations of Shanghai Husi, owned by Aurora, Illinois-based OSI Group., after local media reported it was selling meat products beyond their shelf-life to McDonald’s, KFC and Pizza Hut.

An expanded version of this report appears on WSJ.com .

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/quotes/zigman/303422/delayed/quotes/nls/yum

US : U.S.: NYSE

$ 77.42

+0.41 +0.53%

Volume: 5.01M

July 18, 2014 4:03p

P/E Ratio

28.67

Dividend Yield

1.91%

Market Cap

$ 34.17 billion

Rev. per Employee

$ 25,182

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/quotes/zigman/233369/delayed/quotes/nls/mcd

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+0.62 +0.63%

Volume: 3.99M

July 18, 2014 4:00p

P/E Ratio

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Dividend Yield

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Rev. per Employee

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