Aeolus Tyre eyes growth in South Africa, Australia with new subsidiaries

Jiaozuo, China – Aeolus Tyres Co. has announced plans to establish two wholly owned subsidiaries in South Africa and Australia, as part of its broader international expansion strategy.

The company will invest ZAR15 million (€740,000) to set up Aeolus Tyre South Africa Pty Ltd, based in Johannesburg, and AUS$2.4 million (€1.4 million) to establish Aeolus OTR Australia Pty Ltd, based in Perth.

Both new subsidiaries will primarily be engaged in the import, export, and wholesale of tires and conveyor belts, said a 28 May stock exchange filing.

The decision is aligned with the company's broader focus on the off-the-road (OTR) tire segment and will enhance the group’s international competitiveness and accelerate development in “key regional markets.”

Aeolus expects the investments to help shorten sales channels and increase market share and profitability.