Simonds International, Florence, SC, manufacturer of cutting tools, has reached an agreement to sell its industrial knife business to IKS-ACM of Florence, SC. The announcement was made by Ray Martino, president of Simonds International.
The sale, anticipated to be in July 2006, consists of several Simonds industrial knife product lines which had previously been sold under the International Knife & Saw brand, including tissue, metal shears and slitters, print knives, paper converting and other selected specialty lines. These lines will continue to be manufactured at the Florence, SC, plant, which is included in the sale of the business.
IKS-ACM will be led by a senior management group of four former Simonds International executives, who collectively have more than 85 years of experience with Simonds and International Knife and Saw. The sale is part of Simonds’ broader restructuring plan announced earlier this year, and during the transition period, there will be no interruption in service to any customers of Simonds or IKS-ACM.
IKS-ACM produces industrial machine knives and saws, supplying more than 60,000 types of knives and saws to a variety of industries with diversified products for almost any cutting application.
