Firestone Industrial Products has reported that one impact of the recent hurricanes in the South is that the petroleum-chemical businesses of the region have been severely damaged, and many have not had power or raw materials for weeks.
Since these plants have not been operational for some time, many other industries are now experiencing shortages of many key materials that are typically manufactured in the impacted region. These materials are needed to manufacture many products, including Firestone air springs.
Some of Firestone’s key suppliers have recently advised the company, that due to “force majeure” circumstances, they are suspending deliveries of necessary raw materials to Firestone.
”As a result of this act of God and/or natural disaster, and the declaration of force majeure circumstances by our key suppliers, Firestone Industrial Products is declaring force majeure for all customers effective immediately,” the company announced. “It is our expectation that deliveries of our products will begin to be affected within the next 15-20 business days, and that it may be at least several weeks before we see our shipments return to normal levels. Certain products will be affected more than others due to a heavier reliance on the specific raw materials that are in short supply.” Firestone said it will undertake a fair and reasonable allocation to its customers of its available inventory and of new product once manufactured.
Since these plants have not been operational for some time, many other industries are now experiencing shortages of many key materials that are typically manufactured in the impacted region. These materials are needed to manufacture many products, including Firestone air springs.
Some of Firestone’s key suppliers have recently advised the company, that due to “force majeure” circumstances, they are suspending deliveries of necessary raw materials to Firestone.
”As a result of this act of God and/or natural disaster, and the declaration of force majeure circumstances by our key suppliers, Firestone Industrial Products is declaring force majeure for all customers effective immediately,” the company announced. “It is our expectation that deliveries of our products will begin to be affected within the next 15-20 business days, and that it may be at least several weeks before we see our shipments return to normal levels. Certain products will be affected more than others due to a heavier reliance on the specific raw materials that are in short supply.” Firestone said it will undertake a fair and reasonable allocation to its customers of its available inventory and of new product once manufactured.
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