Update March 2022 - Current challenges in the supply chain

Dear customers,

We are still in the middle of the Corona pandemic with a global impact. In addition, there is the conflict in Ukraine, which is having catastrophic consequences, first and foremost in humanitarian terms. But the war is also already having an economic impact on various sectors.

This pandemic has led to a number of measures being taken by the government in the affected countries. Currently, some regions in China are under lockdown again, which has a major impact on our production and raw material suppliers. In addition, there are partly strong effects on logistics, which means that deliveries are delayed. The shortage of containers for sea freight and port overloading due to high demand continues as well.

One consequence of the war in Ukraine is that nickel trading on the London Metal Exchange (LME) has been suspended. Russia is the third largest exporter of nickel and there were already bottlenecks in the market before the confrontation. The price of nickel has risen by up to 400 % within a few days and has led to the suspension of trading.

These restrictions have a direct impact on production capacities, transport, customs clearance and the company's own supply of raw materials, among other things. Currently, we are not able to estimate how long this restrictions will last, but within the scope of our business relationship we will of course keep you informed about the further development of this exceptional situation and its consequences for our delivery capacity.

Nevertheless, we ask for your understanding at this point, that during this current event of force majeure, we may not be able to deliver some products to you within the originally agreed or the otherwise usual and expected period. Due to the fact that this is an event of force majeure, we must reject any blanket demand for payment of any costs and damages attributable to the incidents mentioned above. We are continuing to monitor the situation in the individual countries and are in close contact with our productions in order to be able to take appropriate measures in the event of supply situations worsening.

Should the information and procurement situation for certain products change significantly, we will of course inform you on an individual and product-related basis as soon as possible.