Aeolus Tire provides financing guarantee for HK subsidiary
2018-11-23 10:27:17Editor：AmandaFont Size：Big Medium Small
On November 15, Aeolus Tire announced that the company will provide financial guarantee for its fully controlled subsidiary Aeolus Asia (Hong Kong) Co.,Ltd..
After shareholder meeting approved, Aeolus Asia (HongKong) could repeatedly borrow no more than 350 million yuan from banks in one year.
Aeolus Asia was set up in October 23, working on tire international trade, but the company hasn't started operation and had no debt until now.
By October 31, Aeolus Tire has provided 18 million yuan of financial guarantee for Qingdao Yellow Sea Rubber Co.,Ltd..
Yellow Sea Rubber is also a fully -controlled subsidiary of Aeolus Tire, mainly producing radial tires.
Tireworld
Related Article
- China's Securities Regulator To Halt Review Of Aeolus Tyre's Asset Restructuring Plan
- Aeolus tire posted 1.87 mln yuan in the first nine months
- Aeolus relocating production to Prometeon plants
- Aeolus tyre and Guizhou Tyre suffers huge deficit in 2017
- Back of Wang Feng, prospect of Aeolus Tyre still unclear
- Tireworld Insight: Domestic tire makers eye overseas expansion
- Tireworld Insight: Price disparity severe between China's rubber exports and imports
- Tireworld Insight: China tire exports dependent on US market performance
- Tireworld Insight: SHFE rubber expected to move in tight range in short-term
- Tireworld Insight: Rubber futures to test near-term resistance at 15,000 yuan/tonne
- Tireworld Insight: China’s tire industry on track of rapid growth
