NEW YORK (June 10)—Chinese tire maker China Enterprises Ltd. cut its net loss last year by nearly 60 percent as it reaped the benefits of divesting non-performing assets and businesses in 2002 and early 2003.
China Enterprises—whose holdings include Hangzhou Zhongce Rubber—cut its net loss last year to $13 million while sales increased 7.6 percent to $339.4 million based on rising demand for radial car tires.