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Foulath Holding In Bahrain Declares Force Majeure Due To Regional Developments
(MENAFN- The Peninsula)
QNA
Manama: Foulath Holding, an industrial group specializing in iron and steel and the parent company of Bahrain Steel and SULB, declared force majeure regarding certain Group operations as a result of the ongoing regional developments in the Middle East and the associated security and logistical challenges.
The company said in a statement that the rapidly evolving situation in the region, including airspace restrictions, disruption to certain maritime routes, and heightened security risks, has created circumstances beyond the Group's control and has impacted operations and supply chains across parts of the Group's activities.
It added that, as a precautionary measure and in the interest of the safety of employees, contractors, and all relevant stakeholders, a decision has been taken to temporarily suspend certain operational activities until conditions allow for the safe resumption of operations.
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