The consolidation is expected to reduce the company’s cost structure by approximately US$1.0 million annually. The Portland plant, which employs 40 people, is scheduled to close by the end of the year.
Clay Kiefaber, president and CEO of Colfax, said: “Although we regret the impact that the plant closing will have on our associates in Portland, this move supports our continued efforts to improve productivity and reduce structural costs by rationalising and leveraging our existing assets and back office functions.”