SHANGHAI, China-Shanghai Tire & Rubber Co. Ltd., the publicly traded Chinese tire maker, increased sales 37.5 percent last year over 1992, although about a tenth of the gain is attributed to foreign exchange translation gains. Net earnings for the company fell 4.5 percent, according to results recently made public. Nonetheless, the earnings-to-sales ratio was a 11.5 percent.
Shanghai, which is scheduled to open a new radial passenger tire factory this year, reported 1993 sales of approximately $255 million (2.23 billion Chinese renminbi).-By Bruce Davis, Europe correspondent.
HANKOOK TIRE EARNS ISO 9001
SEOUL, South Korea-Hankook Tire Manufacturing Co. Ltd. of South Korea has received an ISO 9001 certificate for its quality assurance system from TV in Germany, a leading inspecting and certifying authority.
The certificate, awarded March 28, covers all activities from product design to after-sales service throughout the company: at the Taejon tire plant, the technology center and Hankook's head office.