WATERVILLE, N.S. – Michelin has announced it will buy half of the municipal airport land that borders its factory in Nova Scotia’s Annapolis Valley.
Company spokeswoman Deborah Carty says the $1.8-million agreement with the Kings County Municipal Airport would give the tire manufacturer flexibility should it decide to expand its plant in Waterville.
Financial news and insights
delivered to your email every Saturday.
Carty says the deal will come into force once the small airport’s operations end after September 2015.
The property is located on the northern side of the airport lands, directly behind the Waterville plant.
The Municipality of the County of Kings has voted to close the airport.
The Michelin plant employs about 1,200 people.
More on Money
- Thousands of Canada’s rail workers have a strike mandate. What happens now?
- Bird flu: Experts urge more surveillance in Canada — before it’s too late
- TD Bank hit with $9.2M fine over failing to report suspicious transactions
- Can the Bank of Canada cut rates before the U.S.? What Macklem, economists say
Comments