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Jun. 09, 2008 | Formosa Declares Force Majeure on PP  Formosa Plastics? Plant in Point Comfort, Texas, experienced an electrical transformer premature failure on May 7, 2008. This incident has resulted in a compounding effect causing ongoing unavoidable operational and equipment disruptions.As a result of this event, Formosa Plastics Corporation, U.S.A. is declaring Excuse of Performance (Force Majeure) on all its Formolene Polypropylene Products. It is currently estimated that shipments will be reduced by approximately 15% for a minimum of two months, June and July. |
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