Firestone Industrial declares force majeure
Firestone Industrial Products Co. has declared force majeure for all customers, effective immediately, due to damage caused by Hurricanes Katrina and Rita.
Force majeure excludes a company from liability if an unforeseen event beyond its control prevents it from meeting its obligations as dictated by contract.
"The petroleum-chemical businesses (in the region affected by the hurricanes) have been severely damaged and many have not had power or raw material for weeks," says Bridgestone Americas Holding Inc. officials, Firestone Industrial Products' parent company.
"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 our key suppliers have recently advised us, that due to force majeure circumstances, they are suspending deliveries of necessary raw materials to us.
"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.
"It is our expectaion that deliveries of our product will begin to be affected within the next 15 to 20 business days and that it may be at least several weeks before we see our shipments return to normal levels."