Continental Tire North America reports third-quarter loss

HANOVER, Germany (Oct. 30)—Continental Tire North America posted a $21.5 million operating loss in the third quarter on the combined effects of falling demand, sustained price pressures, increased materials and energy costs and operating inefficiencies, parent company Continental A.G. said. Sales fell in the quarter to $409 million, contributing to a 4.9-percent drop in nine-month sales to $1.17 billion. The nine-month operating loss was $68.9 million vs. earnings of about $24 million a year earlier.