Force Majeure rules EU plastic packaging

A high number of Force Majeure declarations from European polyolefin producers has been leading to low product availability, shortages and inevitably to significant price increases, reports the European Plastics Converters Association EuPC.
A Force Majeure is defined as an extraordinary event or circumstance beyond control of the supplier or act of God such as a war, strike, riot, crime, flood, earthquake, etc. Under these circumstances a supplier is relieved from fulfilling its contractual obligations towards its customer. A recent article in Plastic News provides a good overview on the factors which affect the supply, including the weak Euro and increasing demand.
Click here to download the Plastic News article (1.08 MB).

If you have any questions about this subject, please contact us: info@nvc.nl, +31-(0)182-512411. This item is also included in our monthly overview, the NVC Members-only Update.