Archroma Pakistan declares force majeure
KARACHI: The global supply-chain crisis has started taking a visible toll on Pakistan’s industrial sector, as the country’s leading industrial concern, Archroma Pakistan, on Thursday declared force majeure due to inability to procure raw materials.
“Archroma’s raw materials and petrochemicals supplies coming from China are getting adversely affected by the ongoing “energy consumption controlling measures” and “environmental checks”, coupled with disrupted global supply chain situation due to unavailability of the vessels and containers,” the company noted in a bourse filing.
During the last few weeks, Archroma has been informed by some of the global raw materials suppliers, affected by such supply chain disruptions and have also declared force majeure, due to the abovementioned situation.
“The consequences of these events are beyond our control and leading to challenges for procuring some of our raw materials; therefore, we are being forced to declare force majeure effective from today due to our inability to manufacture and supply such affected products for the time being.”
Effective October 1, 2021, Archroma increased the prices of its products by up to $0.25/kg. The increase was necessary to offset the ongoing exceptionally high freight and logistics costs.
“Archroma made every effort to absorb these increases,” Marcos Furrer, chief operating officer of Archroma, said. “We have; however, reached a point where these adjustments are needed for us to be able to maintain our service levels.”
Archroma is a global, diversified provider of specialty chemicals, serving the branded and performance textiles, packaging and paper, and coatings, adhesives and sealants markets.
Headquartered in Reinach, Switzerland, Archroma operates in over 100 countries, with 3,000 employees located in 35 countries and 26 production sites.
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