Aeolus continues double-digit revenue drop in Q3

Jiaozuo, China – Aeolus Tyre has  reported a 12% drop in revenue to €574 million over the first nine months of 2016, continuing a double-digit year-on-year downturn since the first quarter.

Net profit in the same period fell by 11% to €24 million, compared with a double-digit rise in the first quarter and almost flat interim profit.

In October, the US Department of Commerce released its preliminary determination on anti-dumping tax rates for off-the-road tire import from China, raising Aeolus’ anti-dumping rate from 13.9% to 105.3%.

“Off-the-road tire export…

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