HONG KONG (May 10)—China Tire Holdings Ltd. suffered an $18.5 million loss last year on slightly lower sales of $316.7 million. China Tire blamed the loss on a write-off of assets and provisions taken to cover a judicial award not yet recovered. China Tire reported a 9-percent increase in the number of tires sold, to 6.9 million, but lower selling prices both domestically and abroad left sales 1.4 percent lower than in 1998, the company said.
China Tire posts loss in 1999
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