Goodyear sees aviation tire shortage issues ahead
AKRON, Ohio—Goodyear Tire & Rubber Co. said Friday that there could be a shortage in tires for commercial jets as early as February because operations at its main manufacturing plant in Thailand have been disrupted by flooding.
Starting in late July, Thailand was hit by its worst flooding in more than a century. The floodwaters that idled Goodyear's plant receded only in the last week of November.
The floods left hundreds dead, destroyed millions of tons of crops and disrupted industrial production, including manufacturing operations at Goodyear's aviation tire facility in Bangkok.
Goodyear said it expects a global shortage in aviation tires by February or March. It has increased production at other plants and is pursuing other potential supplies.
The company is working to bring its Thai plant back to full production as soon as possible but noted delays could result from the condition of its equipment, availability of materials and other factors.
Goodyear shares rose 62 cents, or 4.5 percent, to close Friday at $14.55.