US News
Page 1 of 2 | Next PageShow Entire Article
China's Yili Recalls Tainted Milk Powder, Shares Sink
Reuters | June 14, 2012 | 11:23 PM EDT
Inner Mongolia Yili Industrial Group, one of China's top two milk producers, has recalled baby formula tainted with "unusual" levels of mercury, sending its shares down 10 percent on Friday.
In the latest scandal to hit the country's dairy sector, Yili [ 600887.SS?21.85?
-2.43 (-10.01%) ] said in a statement on its website that the recall, which began on Wednesday, applied to "Quan You" baby formula products produced between November 2011 and May 2012.
The products were sold nationwide, according to media reports.
The firm is investigating the cause, it said, adding other products were not tainted.
China's milk industry is struggling to restore consumer confidence after a series of scandals, the worst of which was in 2008 when milk tainted with the industrial chemical melamine was blamed for the deaths of six children.
The government's product quality watchdog, the General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ), detected mercury in several batches of Yili baby formula during a check of products from all of the country's producers, the state-run Xinhua news agency reported.
Yili's product was the only formula found to have been tainted with mercury, it said.
The company's share price fell by the 10 percent daily limit to 21.85 yuan soon after the market opened. Shares of competitor China Mengniu Dairy [ 2319.HK?19.82? -0.63 (-3.08%) ] were off 0.7 percent.
Show Entire Article
storage auctions storage auctions les miles les miles beyonce dance for you video beyonce dance for you video asu football
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.