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 stated that each its automotive arm and its powder metallurgy enterprise had been being hampered by the “irritating” scarcity of chips.
“At current the timing and period of those constraints is unsure, however not too long ago the consensus view is that they’ve lengthened,” Melrose stated.
Whereas the corporate advised buyers earlier within the yr that it was being affected by the semiconductor disaster, Simon Peckham, the chief govt, had stated final month that it anticipated constraints would “begin to ease over the stability of this yr”.
Its warning yesterday that the disruption was doubtless