SHANGHAI, China (Aug. 1)—Shanghai Tyre & Rubber Co. Ltd. was $31 million in the red for the six month period ended June 30, double the loss reported a year earlier. Operating profit fell 16.5 percent, to $10.3 million. Sales for China´s largest tire maker rose 11.4 percent, to $247.3 million. The company, which currently is in discusssions with Groupe Michelin regarding a joint venture or other cooperation, did not comment on its performance.
Six-month Shanghai loss double 1999´s
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