Yurun Food Falls Sharply On Report Unit's Meat Contained Banned Additive


Sep 08, 2011 5:56 AM EDT
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HONG KONG -(Dow Jones)- Shares of pork processor China Yurun Food Group Ltd. (1068.HK) fell as much as 19% Thursday, touching a two-year low, after a Chinese media report said pork produced by one of the company's units contained traces of a banned lean-meat additive.

The report by the National Business Daily represents the latest addition to a string of negative publicity for the company in recent months, developments that have triggered massive selling in Yurun's Hong Kong-traded shares.

The National Business Daily reported Thursday that it received a complaint from an unnamed party claiming a Hebei province-based Yurun unit sold pork products that contained clenbuterol, a banned drug used as a slimming additive in hog feed. The report didn't elaborate further, saying it wasn't able to reach Yurun or its unit for comment.

Yurun ended the day 16.1% lower at HK$13.94, its lowest closing level since Sept


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