Cortland Cable to Close River Street Plant in New York
Theย Cortland Cable River Street closureย will shut down operations at the companyโs plant inย 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 atย https://www.actuant.comย (or its current corporate site if updated).
Parent Company Cites Market and Technology Shifts
According to a report in theย Cortland Standard, a representative forย Actuant Corp.ย confirmed the closure and outlined several key reasons for the decision. A downturn in theย oil and gas industry, a primary market for Cortland Cableโs products, has reduced demand for the companyโs cables.
In addition, Cortland Cable is shiftingย rope productionย from the Cortland plant to other facilities inย Texasย andย Washington. At the same time, newย battery, communication, and autonomous technologiesย 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 retainedย Martin Kenner, president ofย Commission Brokers, Inc., to liquidate manufacturing assets that will not transfer to other locations. Interested buyers or industry contacts can reach him atย 401โ943โ3777ย or by email atย marty137@aol.com.
