Slowdowns related to Boeing 787 impose four-month shutdown of Leonardo's Grottaglie plant

The company says in a note.

"The slowdown in production rate growth and deliveries of the Boeing 787 imposes a four-month plant shutdown to align production volumes with reduced requirements in the short term."

CEO Roberto Cingolani said last month that Boeing's delays could cost Leonardo about 50 million euros this year.

Just today, in a meeting with unions, the defense company announced the consolidation of the diversification path for the Grottaglie plant, chosen for final assembly of the AW609 tiltrotor in Italy.

"The development of further strategic initiatives is aimed at redefining new scenarios for the Grottaglie site as part of Leonardo's broader strategy to ensure a sustainable future for the Aerostructures division, in which some 300 million euros have already been invested between 2019 and 2023."

(Antonella Cinelli, editing Gianluca Semeraro)