Trade wars hit Amerityre in 2019

Boulder City, Colorado — Amerityre, which makes polyurethane tyres for industrial and farming applications, had sales of $3.5m in 2019. This is lower by 3% than the same period in 2018

Gross Profit across the business fell 4% and hit $1.054m in 2019. 

The company said that demand for its light duty polyurethane foam tyres were higher than expected in the final quarter of the year. But, tariffs imposed by the US government on imported Chinese products hit the business. The company imports its steel wheel hubs from China.  

Sales volumes of forklift tyres continue to be less than 5% of the company's total sales revenue. Consumers prefer cheaper imported rubber tyres, said Amerityre. 

Low farm revenue hit sales of the company's agricultural tyres. China's tariffs on soybeans has lowered demand for the commodity and has hurt US farmers, the company said. 

The company said: 'Our fiscal fourth quarter from a sales standpoint was our best quarter in 4 years. We attribute this to our diversified product line and several new customer wins.'