SOUTH CHICAGO HEIGHTS, Ill.-Waste tire processor National Tire Services Inc. suffered a $2 million loss at the close of last year, although its annual sales nearly tripled compared with 1992. National Tire boosted sales from $1.47 million in 1992 to $3.82 million in 1993 while its net loss grew from $1.72 million in 1992 to $1.97 million last year.
National Tire said the loss was primarily due to one-time charges, coupled with insufficient revenue to support operating and other expenses, during the first half.
The firm achieved a profit in the fourth quarter, ended Dec. 31, with earnings of $19,900 on record sales of $1.6 million, compared with a $718,909 loss on sales of $132,917 in the year-ago period.
The company also has moved its corporate headquarters from Brooklyn Park, Minn., to a new 32,000-sq.-ft. waste tire processing facility in South Chicago Heights.
National Tire's new address is: 3215 Butler Ave., South Chicago Heights, Ill. 60411; (708) 709-2240 or (800) 753-0210. Fax (708) 709-2246.