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Friday, July 25, 2014

In China meat scandal, McDonald's Japan switches to Thai chicken, no nuggets in Hong Kong, (NYSE: MCD)

McDonald's Corp has suspended sales of chicken nuggets and other items in Hong Kong after it said it imported products from Shanghai Husi Food, the U.S.-owned Chinese company at the centre of a food safety scare in China.McDonald's said it imported certain products from Shanghai Husi between July last year and June this year, although no food items from the Shanghai supplier remained in stock.In Japan, McDonald's Holdings Co (Japan) said on Friday it would halt all imports of chicken products from China and shift that business to Thailand, boosting purchases from existing suppliers McKey Foods Services (Thailand) Ltd, a unit of Keystone Foods, and Cargill Thailand.Last year, Thailand supplied 62 percent of McDonald's Japan's chicken product imports, with China supplying the remainder.

McDonald?s Corporation franchises and operates McDonald?s restaurants in the global restaurant industry. Shares of MCD remained unchanged at $95.35. In the past year, the shares have traded as low as $92.22 and as high as $103.78. On average, 4511780 shares of MCD exchange hands on a given day and today's volume is recorded at 7781720.