Goodyear Tire & Rubber CEO Rich Kramer told CNBC on Tuesday that he didn’t expect the impending rubber shortage to hit tire makers.
Concerns over the shortage of rubber made from rubber trees grown primarily in Southeast Asia are the latest problems facing automakers already suffering from semiconductor shortages.
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] Warehouse rubber “. Cramer talked about “Mad Money” in an interview with Jim Cramer.
“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