MRO Melrose Industries PLC

JPMorgan has cut its free cash flow forecasts for Melrose Industries PLC (LSE:MRO, OTC:MLSPF), the FTSE 100 aerospace supplier, after it announced a claims programme providing up to $100 million for eligible residents and businesses affected by the Garden Grove evacuation. The incident...

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Shares jumped after GKN Aerospace set a Garden Grove restart date and Melrose put up to $100 million behind local claims.

Full manufacturing operations at the GKN site—which makes products for F-35 jet fighters—are set to resume on Sep. 28.

Aug 25 (Reuters) - Shares of Melrose Industries rose 8% on Tuesday after the GKN Aerospace owner said it was targeting September 28 to resume full production at its Garden Grove facility and pay up to

A UK-owned aerospace firm has agreed a compensation programme of up to $100m (£73.4m) for 50,000 California residents forced to evacuate their homes in response to a chemical incident. GKN Aerospace halted ⁠production at a factory outside Los Angeles in late May after a tank ​overheated.

Melrose Industries PLC (LSE:MRO, OTC:MLSPF) has outlined a $100 million claims programme for residents and businesses affected by the May evacuation linked to an incident at its GKN Aerospace’s Garden Grove facility in California. The company has confirmed that no criminal charges will be...