The North-American market for plastics resin is greatly affected by last week’s hurricanes in Texas and Florida. Many resin suppliers have halted or slowed down their production.
Transporters, for their part, are experiencing logistics nightmares with congestion in both States and surrounding areas.
Last Friday, our partners have implemented the ‘Force Majeure’ clause of supply contract. This enables them to avoid the standard ’30 day-notice’ clause.
This in turn forces us to increase the price of all of our plastic packaging components by 5% for all deliveries as of September 14, 2017 and thereafter.
This ‘Force Majeure’ increase is valid for 90 days. It is our hope that supplies will return to normality within that period.