Goodyear Tire & Rubber CEO Wealthy Kramer instructed CNBC Tuesday that he does not anticipate a looming scarcity in rubber to harm the tire pro
Goodyear Tire & Rubber CEO Wealthy Kramer instructed CNBC Tuesday that he does not anticipate a looming scarcity in rubber to harm the tire producer.
Issues over a low provide of rubber, created from rubber bushes largely grown in Southeast Asia, is the most recent drawback going through automakers already scuffling with an absence of semiconductors.
When requested if the corporate has sufficient of the fabric to supply tires for automobiles, Kramer stated, “quick reply is: We do.”
“Basically what you see taking place is … both hypothesis or it is a variety of even China [putting] rubber in warehouses,” Kramer stated in an interview with Jim Cramer on “Mad Cash.”
“It is one thing that is all the time on the market, a variety of hypothesis occurring,” he added. “I can by no means say by no means about one thing that might occur to southeast Asian rubber bushes, however that is actually not been an issue for us, and the staff’s been managing it brilliantly.”
Shares of Goodyear rose 3% on Tuesday earlier than closing at $18.28.