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MILAN (Reuters) – Italy’s Leonardo said its former sub-contractor Manufacturing Processes Specification (MPS) did not provide it with components for Airbus’ programmes.
Shares of the Italian state-controlled conglomerate fell more than 7% on Thursday after Boeing (NYSE:BA) said parts supplied by Leonardo sourced from the sub-contractor had been improperly manufactured.
MPS is listed as an Airbus approved supplier in a document available on the planemaker’s website.
Leonardo shares were volatile on Friday on the Milan stock exchange. They were rising 1% at 1255 GMT, underperforming Italy’s blue-chip index FTSE MIB, up 0.8%.
(This story corrects to clarify that Leonardo did not use components supplied by MPS for Airbus programmes)
