working with suppliers to understand the situation with every single one of its raw materials , how their status will evolve over time , and to ensure that Houghton ’ s own supply chain is guaranteed .
The business is looking closely at all 4,000 product formulations it provides to the market today , and in doing so , Houghton knows that it will soon lose around 10 % of raw materials it buys as they are discontinued by suppliers . Registration costs are high , and labs are significantly overworked – however , thanks to Houghton ’ s dedication to preparedness , the company is placed in a more comfortable position than most as REACH takes effect .
“ We feel very confident today on the availability of our products during 2018 ,” Chung-Fat says . “ We ’ re a global leader in metalworking fluid solutions and we cannot afford to leave our customers in the trenches
all alone , so we ’ ve tried to anticipate this because while REACH is only occurring across Europe , it has global ramifications across industries . We don ’ t want to put our customers into a position where there ’ s a necessity to make a change last-minute which could then have other impacts on approval process flow . We are working closely with many of them through the transition and making sure they are ready for next year .”
The Fourth Industrial Revolution Unmoved by any problems that REACH may cause , Houghton is driving forward with new strategies . The business is concentrating on the www . businessrevieweurope . eu 87