Brexit "immaterial" to Goodyear in UK

Akron, Ohio - Goodyear does not expect the UK referendum decision to leave the European Union to cause any major disruption to its UK business, according to Richard Kramer, chairman, president & CEO.

"Given that production in the UK has been diminished greatly [over recent years], I don't think we see any significant disruption coming there," he said. "We like our business in the UK, and we certainly think we can manage through this."

These views were reinforced by chief financial officer & executive vice president Laura Thompson, who described Brexit as largely "immaterial," to Goodyear's UK business.

The company, she pointed out, no longer manufactures tires in the UK, and the country represents only around 2.5 percent of its sales.

"It's primarily consumer tires, and.... we import all of the tires into that region," said Thompson. "So again,  within the UK, not a tremendous exposure."

Thompson, however, added that there was still a large question offer the impact of Brexit on Europe.

"The impact on growth there, over time, [has] yet to be determined," she commented.

(Comments by Goodyear officials sourced from results conference call transcript, supplied by Seeking Apha.)