U.S-based meat supplier OSI Group has lost hundreds of millions of dollars in revenue in the last four months due to last summer’s food safety scandal in China, according to an article posted on the company’s China website.
The article offers the most detailed assessment to date of the damages OSI Group has suffered since its Shanghai Husi Food Co Ltd plant came under scrutiny in July when an undercover Chinese media report showed workers using out-of-date meat and doctoring production dates.
Operations at Shanghai Husi, which supplied meat to McDonald’s Corp and Yum Brands Inc, were suspended, and other OSI Group facilities in China have suffered from “plummeting product sales and increasing inventory overstocks,” according to the article.