Machinery and equipment at two of the company’s facilities, in Norman, OK and York, PA, are involved in the sale-leaseback. This transaction allows the firm to receive in cash the value of these productive assets, while retaining their use.
John R. Tucker, president and ceo of York, stated, “We are pleased to deliver an additional $82 million in cash as a result of this transaction. We are focused on cash generation to fund share repurchases, repay debt, and reinvest in our business.”
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