US hoist manufacturer Columbus McKinnon has sold a Lodestar chain hoist assembly and shipping facility for $600,000 to housing truss manufacturer Dominion Truss.
The 112,000 sq ft (10,300 sq m) factory, in Abingdon, Virginia, USA, was phased out in 2004 as part of a lean manufacturing re-engineering programme. The company says it intends to use the proceeds from this sale and two others to reduce its debt load, which stands at about $280m.
The Damascus, Virginia plant is now the only factory to make the Lodestar, as well as the Shopstar, the Cyclone hand chain hoist and the Cyclone range of lever hoists. The facility, managed by Keith McCall, also has a testing laboratory.
