Stock Groups

Former Leonardo sub-supplier did not sell components to Airbus By Reuters

by Mike Robinson

[ad_1]

© Reuters. FILE PHOTO: A logo of defence group Leonardo is pictured on their booth during the European Business Aviation Convention & Exhibition (EBACE) in Geneva, Switzerland, May 22, 2017. REUTERS/Denis Balibouse

MILAN (Reuters – An ex-sub-contractor to Leonardo has not sold components to Airbus according the Italian defense group.

On Thursday, shares in the Italian state-controlled conglomerate plummeted more than 7% after Boeing (NYSE) stated that components supplied by Leonardo from the sub-contractor were incorrectly manufactured.

Leonardo stated that Manufacturing Processes Specification had not provided titanium components to Airbus programs.

MPS was listed in an Airbus document as a supplier approved by them.

The Milan stock exchange traded Leonardo shares volatilely on Friday. The shares were trading at 0.33% in Milan GMT. They were 0.5% lower than the blue-chip index of Italy, but still rose 0.5%.

Disclaimer Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs include stocks, futures, indexes and Forex. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media does not accept any liability for trade losses you may incur due to the use of these data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.



[ad_2]