The aftermath of Hurricanes Katrina and Rita will severely affect deliveries by Firestone Industrial Products within the next 15 to 20 days, the company announced Wednesday. Therefore, the firm has declared “force majeure” for all of its customers, effective immediately.
This means Firestone Industrial Products’ available inventory and new product, once manufactured, will be allocated to its customers on a “fair and reasonable” basis.
The storms ravaged the petroleum-chemical businesses in the Gulf Coast area, with many plants not receiving power or raw material for weeks, Firestone Industrial Products said. This has led to material shortages, which it noted will affect its ability to supply air springs.
“Some of our key suppliers have recently advised us they are suspending deliveries of necessary raw materials to us,” the company stated in a news release.
