Partners in industry: ADA renews loan-lease equipment agreement with Michelin
Partners in industry: ADA renews loan-lease equipment agreement with Michelin Drew Butler dbutler@gannett.com Earlier this week the Ardmore Development authority voted to renew their longtime partnership with the Michelin tire plant. The partnership is a loan-lease agreement in which the ADA agrees to purchase manufacturing equipment that the plant will then lease back from the organization. Mita Bates, president and CEO of the Ardmore Development Authority, said both parties entered into the agreement in 2004 in order to help the plant stay on top of technological developments. “We actuall...
Source: ardmoreite.com