Aeolus Tyre posts net loss on higher materials costs

Aeolus-tire-600Jiaozuo, China – Aeolus Tyre posted €26 million (201 million yuan) net loss for the first nine months of 2017, compared with €8 million net profit during the same period last year.

Revenue over the period grew by 4% to €739 million, according to Aeolus’ financial report released earlier this week. The Shanghai-listed company’s share price has dropped by 10% since.

“Fluctuating prices of natural rubber and other major feedstock, among other factors, have caused a 4% drop…

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