Goodyear tires & rubber CEO Rich Kramer told CNBC on Tuesday that he doesn’t think the looming rubber shortage will hurt tire makers.
Concerns about Low supply of rubberMade from rubber trees grown primarily in Southeast Asia, is the latest problem faced by automakers already suffering from a semiconductor shortage.
When asked if the company had enough material to make automotive tires, Kramer said, “The simple answer is: we do.”
“In essence, what you’re doing is … speculation, or even China. [putting] “Rubber in the warehouse” and Cramer said in an interview with Jim CramerFlirt.. “
“It’s always there, and a lot of speculation continues,” he added. “I can never say what can happen to rubber trees in Southeast Asia, but that’s not really a problem for us, and the team manages it well.”
Goodyear’s share price rose 3% on Tuesday, closing at $ 18.28.
Goodyear CEO says the company has supplies to slow the looming rubber shortage
Source link Goodyear CEO says the company has supplies to slow the looming rubber shortage