Davol Inc. will close its medical device manufacturing facility in Lawrence by the end of March and eliminate 130 area jobs in the process, company officials confirmed Thursday.

Holly Glass, a spokeswoman with C.R. Bard, the parent company of Davol, said the Lawrence plant is one of three the company will close as part of a resturcturing plan aimed to save the company about $20 million a year.

The plant, located at 700 E. 22nd St., currently employs 115 full-time workers and 15 temporary employees, Glass said. The plant manufactures, sterlizes and distributes several disposable medical devices used in a variety of surgical procedures.

Work at the plant, Glass said, will be tranfered to a C.R. Bard facility in Covington, Ga.

Glass said the Lawrence facility was slated for closure, in part, because the plant’s capacity to add new work had shrunk over the years compared to other C.R. Bard facilities.

“Our goal with the restructuring was to move production around to produce better economies of scale in our manufacturing and distribution processes,” Glass said. “The sterlization and distribution capacity at the Covington plant is just much larger and is in a position to absorb the operations of the Lawrence facility.”

The shutdown will be done in phases, Glass said. The company will begin eliminating positions in October, then will make a second round of job cuts in January and will complete the shutdown of the plant by the end of March. Glass said no decision has been made yet on how many jobs will be eliminated during each phase.

Glass said the company is offering a severance package to all employs based on their position and the number of years they have worked for the company. She declined to give any further details about the package.