TORONTO (July 18)—NRI Industries Inc. suffered a 24-percent drop in sales in the first quarter of fiscal 2001 as demand from car makers for its parts fell, according to parent company Clairvest Group Inc. Pretax earnings fell 70 percent to $606,000 and the firm is forecasting weak results for the remainder of the year, but a return to profitability at historical levels when automotive demand strengthens next year. NRI is the self-proclaimed North American leader in converting tire-derived waste rubber into manufactured products.
NRI sales decline 24% in quarter
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