Simonds Purchases the Assets of Pacific Hoe

Simonds International (Fitchburg, MA), a leading provider of industrial cutting tools, announced an agreement to acquire the assets of the Wood Products Division of Pacific Hoe. The Simonds wood operations will be greatly enhanced by the addition of the Pacific Hoe assets and high quality customer base. All products and customer segments currently served by Simonds and Pacific Hoe will continue uninterrupted during the integration process and thereafter.

Ray Martino, president and chief executive officer of Simonds said: ?The asset purchase will leverage the strength of each company into a single wood products organization with improved new product development capabilities, increased product breadth and the ability to serve the market more effectively with the highest quality products and most revered brands in the industry.?

Simonds International, founded in 1832, is a leading supplier of cutting tools and related products to metal markets. Pacific Hoe was founded in 1984 when The Pacific Saw & Knife Company purchased R. Hoe & Company. Pacific Hoe is a leading North American manufacturer of cutting tools for the wood products industry.

——————————————————————————–

Pacific Hoe, 503-234-9501, www.pacific-hoe.com.

Simonds International, 135 Intervale Road, P.O. Box 500, Fitchburg, MA 01420, 978-424-0100 or 800 343-1616. Fax: 978 424-2212, www.simondsinternational.com.