Climate and Supply Chain ResiliencyEverstream Team
The recent floods in Germany and other parts of Western Europe, including Belgium, Luxembourg, and the Netherlands, affected areas that are home to industrial zones that host dozens of high-precision manufacturing suppliers that supply specialized parts for the automotive, aerospace, technology, and mechanical engineering sectors. The extent of flood damages implies that recovery time for the affected facilities may not be quick. Until now almost 90 companies in the affected areas have announced production halts, force majeure declarations, or even profit warnings. Similarly, the extensive floods in Henan Province, China have caused significant damages to transportation links, including rail links, and have affected production operations at facilities in the automotive, technology, life sciences, and industrial manufacturing sectors.