Leaching foreign company, Archroma Pakistan, has expressed its inability to manufacture and supply goods due to delays in the delivery of raw material from global suppliers of raw materials, and has officially declared Force Majeure.
According to stock filing,
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 non-availability of vessels and containers.
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 notification added,
The consequences of these events, which 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.
Archroma Pakistan made a tremendous profit so far in 2021 as its profit stood at Rs. 14.8 billion in the first nine months compared to Rs. 11.58 billion during the corresponding period of the same year. It produces different categories of chemicals for textile and other sectors.
