Overview: Aeolus Tyre
The Aeolus Tyre Co. Ltd., which was founded in 1965, is well known in Europe for its truck and OTR tyre brands Aeolus and Henan. The company operates production facilities in the city of Jiaozuo (Henan province) and produces about 2.7 million tyres per annum. In 2005 Aeolus generated an annual turnover of about 420 million euros, and according to company publications by last year turnover had already increased to 520 million euros. In total, Aeolus can produce tyres of 416 specifications and is currently investing in the expansion of its production capacities of 1.2 million units per year. In addition to this, chairman of the board Cao Chaoyang has recently announced that Aeolus will build another tyre factory in which the company plans to produce 5 to 6 million passenger car radial tyres from 2008. Last year the company sold its products in 140 different countries.
Since the end of 2003 Aeolus Tyre Co. Ltd. has been partly listed on the Shanghai Stock Exchange. A legal dispute between Michelin and Aeolus with regards to the infringement of design rights has been settled.