Cronimet is refuting rumors of problems with shipping its supply of ferrous-molybdenum from the Georgia port of Poti. The company, based in Germany, is involved in the trading, production and recycling of alloying material for the stainless steel industry.
The company has assured its customers that the supply of the metal, by Zangezur Copper and Molybdenum Combine AG, which belongs to the CRONIMET Group, is currently assured until the end of next month.
The company also announced that in order to safeguard its
supply of the raw material, it is intensifying and strengthening its efforts to develop additional transport routes. These efforts will give the concern the ability to be flexible and react quickly to the ongoing and changing logistical challenges.
Currently, Cronimet does not expect to declare Force Majeure in connection to the crisis in Georgia.
Cronimet has 50 locations throughout the world, and handles more than 1 million tons of material, primarily stainless steel based.
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