LISBON, Ohio (WYTV) – A factory in Lisbon that produces things like hoists and rigging tools will be closing, affecting 76 employees.
Columbus McKinnon Corporation announced Thursday that it will be closing the Lisbon manufacturing facility to consolidate it with its facilities in Virginia and North Carolina.
The restructuring process should take seven to ten months. Closing costs are expected to be about $3.5 million, but the company expects to save $5 million a year by closing the factory.
“This consolidation will provide better service and an improved overall experience for our customers, while driving value,” said Mark Morelli, president and CEO.
Columbus McKinnon designs, manufactures and markets things like hoists, actuators, rigging tools, light rail workstations and digital power and motion control systems to lift and move industrial materials.
He said the facilities in North Carolina and Virginia have become “assembly-manufacuturing centers of excellence” over the past year.
Columbus McKinnon had a factory in Salem that consolidated with the factory in Lisbon a year ago.
The Lisbon factory was part of the Chester Hoist acquisition in 1995.