Several UK-based aerospace companies and its board members have set up a virtual meet to assess Liberty Steel's industry exposure, company owned by Sanjeev Gupta. The meeting is being coordinated by the UK Aerospace Growth Partnership, which is a government-industry body. Reports have stated that seven members of a UK supply chain task force are attending the discussion.
One of the Rolls-Royce Holdings Plc has confirmed that it is a Liberty Steel customer. The companies will be discussing the potential impact of the struggles faced by the suppliers in the aerospace sector. And they will discuss looking for alternate options to resolve the concerning issues. Other members of the ADS group task force will also be a part of this virtual meeting.
ADS Group task force includes Airbus SE, French engine-maker Safran SA, Spirit AeroSystems Holdings Inc., Bombardier Inc., Collins Aerospace, a Raytheon Technologies unit GKN, owned by Melrose Plc. The ADS group is a broad industry lobby for aerospace, security firms, and defense sectors. The board members will discuss the aerospace sector's challenges and introduce new regulatory rules for the suppliers and manufacturers.