Local manufacturer Matrix Composites & Engineering lost a fifth of its value on the ASX today after announcing it had received a cancellation notice for two contracts worth a combined $US21.8 million ($A30.5 million).

Local manufacturer Matrix Composites & Engineering lost a fifth of its value on the ASX today after announcing it had received a cancellation notice for two contracts worth a combined $US21.8 million ($A30.5 million).