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The two suppliers of ADN (which is the main ingredient of nylon 66), located in the USA have declared force majeure for an indefinite time due to harsh winter conditions. It is predicted that this situation will have impacts on the whole nylon 66 production chain and will trigger global supply chain problems. Due to the announced force majeure events and foreseeing the possibility of Kordsa being affected by this situation similar to all nylon 66 manufacturers in the world, a force majeure declaration to be effective as of February 24, 2021 has been deemed necessary by Kordsa. Since the duration and depth of the force majeure event is directly related to our suppliers, the possible impacts of the same on our financial results shall be evaluated in due course as per the developments and communicated with the public. During this period, given the limitations of the force majeure, we have taken the measures necessary to supply our customers. Moreover, information on developments with each one of our customers is being shared urgently and necessary actions are being decided. Required explanations on the commercial and financial aspects of the situation shall be made to all our stakeholders as per the development of the issue. |
We proclaim that our above disclosure is in conformity with the principles set down in “Material Events Communiqué” of Capital Markets Board, and it fully reflects all information coming to our knowledge on the subject matter thereof, and it is in conformity with our books, records and documents, and all reasonable efforts have been shown by our Company in order to obtain all information fully and accurately about the subject matter thereof, and we’re personally liable for the disclosures.