Cortland Cable to Close River Street Plant in New York
The Cortland Cable River Street closure will shut down operations at the company’s plant in Cortland, New York, as its parent company responds to shifting markets and technology. The move affects local cable and rope manufacturing work at the River Street facility.
You can learn more about the parent company at https://www.actuant.com (or its current corporate site if updated).
Parent Company Cites Market and Technology Shifts
According to a report in the Cortland Standard, a representative for Actuant Corp. confirmed the closure and outlined several key reasons for the decision. A downturn in the oil and gas industry, a primary market for Cortland Cable’s products, has reduced demand for the company’s cables.
In addition, Cortland Cable is shifting rope production from the Cortland plant to other facilities in Texas and Washington. At the same time, new battery, communication, and autonomous technologies have encouraged many remaining cable customers to move toward alternative solutions, further shrinking the traditional cable market.
Asset Liquidation and Contact Information
As part of the closure process, Cortland Cable has retained Martin Kenner, president of Commission Brokers, Inc., to liquidate manufacturing assets that will not transfer to other locations. Interested buyers or industry contacts can reach him at 401‑943‑3777 or by email at marty137@aol.com.
