Meggitt shares fall on link with Boeing 787 battery
The latest developments in safety authorities' investigation into Boeing's troubled flagship Dreamliner jet have enveloped a British manufacturing firm which makes electrocomponents used in the 787's battery.
Shares in FTSE 100-listed Meggitt fell 7.8p to 429.4p as it emerged Securaplane, one of its United States subsidiaries, which makes part of the charger used for the Dreamliner's battery, was involved in the US National Transportation Safety Board's inquiry.
Boeing's fleet of 787 jets remains grounded after the forced landing of an All Nippon Airways flight in western Japan last week, which followed five separate malfunctions on other 787 planes in nearly as many days, including a fire on board one jet.
US and Japanese authorities have begun a joint investigation into the Dreamliner, which has focused on the production line of GS Yuasa, the Japanese battery maker for Boeing's troubled aircraft. Yasuo Ishii, a Japanese transport ministry safety official, said: "Engineers from the [US Federal Aviation Administration], Boeing and our aviation bureau … are checking on whether there have been any issues in the production process. We still don't know what caused the battery problem, and so we are looking into all possibilities."
A spokesman for Meggitt said: "Securaplane is one of Meggitt's US-based subsidiaries and has been invited to contribute to the investigation process being conducted by the US National Transport Safety Board."
Boeing has put deliveries of the Dreamliner on hold until the FAA concludes its investigation.
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