Report: GM purchasing chief says that supplier crisis is not over yet

After serving a few months as the new purchasing chief for General Motors Co., Bob Socia in an interview expressed his worries about more financial trouble coming as production ramps up. Socia, currently the vice president of GM’s global purchasing and supply chain, said that he expects “more troubled suppliers as the volumes come back.”

Socia explained that there’s nothing to indicate that the economic troubles are now behind it. The car industry continues to face liquidity issues and most suppliers are still weakened financially, meaning that they have difficulty securing operating funds from banks and shoring up their capital.
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