Accused of supplying expired chicken and beef in China, the U.S. food processor OSI Group has lost nearly 6 billion yuan in the country since last year, according to a senior executive of the company.OSI Group is a supplier to the fast food chains McDonalds and KFC.On July 20 last year, a Shanghai television station reported that an OSI-operated factory was selling expired chicken and beef.The Shanghai government closed the OSI factory profiled in the report shortly after.Lu Yong, OSI China’s chief financial officer, said the company halted operations at three meat processing factories in China after the scandal and business even related to vegetable processing was also hurt.Lu said six OSI China executives have been detained amid an ongoing probe over the company.However, Lu said OSI China will continue to remain in the market, and is optimistic on its prospects.Lu said the company expects to reopen a factory in Henan Province with capacity to handle 18,000 tons of meat products soon.For Caixin Online, this is Diana Bates.
