SPRINGFIELD, Mo. (AP) — Regal Beloit Corporation says it will close its plant in east Springfield, causing a loss of 330 jobs.

Regal officials said Tuesday that the plant, which manufactures small motors and components, will close over the next 18 months. A news release says the company will transfer the work done at the plant to other plants in the U.S. and Mexico.

The Beloit, Wis.-based company says consolidating operations will allow it to remain globally competitive and reduce variation between its manufacturing plants.

The company says it will help employees find other jobs and will explore possible transfers to jobs in other Regal facilities, including several in Missouri.