Melrose Industries, the engineering conglomerate, says it’s being hit by a worse than anticipated crunch within the international provide of semiconductors, which is inflicting turmoil for automotive producers.
The FTSE 100 group mentioned that each its automotive arm and its powder metallurgy enterprise have been being hampered by the “irritating” scarcity of chips.
“At current the timing and length of those constraints is unsure, however not too long ago the consensus view is that they’ve lengthened,” Melrose mentioned.
Whereas the corporate informed buyers earlier within the 12 months that it was being affected by the semiconductor disaster, Simon Peckham, the chief government, had mentioned final month that it anticipated constraints would “begin to ease over the stability of this 12 months”.
Its warning yesterday that the disruption was seemingly