Harvard Bioscience, Inc. (NASDAQ:HBIO) stock rose Friday after the company said it will reshape its production footprint across the U.S. and abroad.
Harvard Bioscience aims to streamline operations and cut long-term costs.
Facility Changes
The company plans to close its Holliston, Massachusetts, plant. U.S. output will shift to its Minneapolis, Minnesota, hub. Some work will move to sites in Germany, Sweden, and the U.K.
CEO John Duke said the reorganization builds on flexibility from recent refinancing. He said consolidating key operations will leverage scale and expertise across sites.
Management expects roughly $3 million in savings in 2027. Once fully implemented, it is expected to bring about $4 million in annual savings beginning in 2028. The gains include lower overhead, fewer SKUs, and better asset use.
Workforce And Execution
The company will reconfigure roles across operations. It also said it has a phased transition plan.
Leaders said the plan will support order fulfillment and product quality during the shift.
The Holliston facility will stay open through 2026 to support customers. Harvard Bioscience aims to complete the consolidation by the first quarter of 2027.
Transition-related costs may raise expenses into mid-2027.
HBIO Price Action: Harvard Bioscience shares were up 0.63% at $0.54 during premarket trading on Friday, according to Benzinga Pro data. The stock has lost over 69% in the past year.
Photo by Korot Yurii via Shutterstock
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