Lisbon plant closing to impact 76 workers as company moves south
A manufacturing company has announced it plans to close it’s Lisbon, Ohio plant and move operations to its facilities in the South.
Columbus McKinnon Corporation announced on Wednesday that it would be closing its factory on Route 45, impacting 79 employees. Fifty-nine of those workers are unionized.
The company says it is consolidating the Lisbon operation into its facilities in Virginia and North Carolina.
Mark Morelli, President, and Chief Executive Officer commented, “We are continuously identifying opportunities to simplify our business. This consolidation will provide better service and an improved overall experience for our customers while driving value,” said CM President and CEO Mark Morelli. “Over the last year, we have transformed the Wadesboro, North Carolina, and Damascus, Virginia facilities into assembly-manufacturing centers of excellence for wire rope and electric chain hoists, respectively.”
Columbus McKinnon acquired the Lisbon facility as part of the Chester Hoist acquisition in 1995.
According to a statement from the company, the restructuring process is expected to take between seven to ten months.
The company expects plant closure costs of approximately $3.5 million and estimates annual savings of $5.0 million once completed.