Federal’s debt-to-asset ratio reaches 60%
On 14 March, Federal Tire said it would hold a general shareholder meeting in three months. Tyrepress China found that the tyre manufacturer will issue a “Report on losses up to half of the paid-in capital” at the general meeting of shareholders. Federal explains that “the accumulated losses of the company in 2022…reached one-half of paid-in capital”. This document shows that the Federal business situation in 2022 seems to have fallen into a trough.