Europe to planemakers: Stop buying Kobe Steel products [CNN]
KOBE STEEL SPON ADR (KBSTY)
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Source: CNN
Europe to planemakers: Stop buying Kobe Steel products Europe has issued a warning to the aviation industry: Stop using metal from scandal-plagued Kobe Steel. The European Aviation Safety Agency (EASA) advised manufacturers in a statement Wednesday to suspend their use of Kobe Steel ( KBSTY ) products after the Japanese firm admitted to falsifying data. The regulator recommended that aircraft makers find alternative suppliers and conduct a "thorough review of their supply chain." It's the first such advisory to be issued by a major regulator since Kobe Steel came clean last week over faking strength and durability data on thousands of tons of aluminum and copper parts. The revelation left plane, train and automakers across the world scrambling to gauge their exposure to the suspect parts. Toyota ( TM ) , Ford ( F ) , GM ( GM ) , Boeing ( BA ) have all said they used Kobe Steel, as have the operators of Japan and Britain's high-speed rail networks . All bought affected
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