History of the Company

We would like to share with you this brief account of Simonds Industries, a cutting tool manufacturer founded in 1832. In essence, this is a story of a typical New England business handed on by father to son for four generations. The business has prospered under its leaders who have followed the consistent practice of plowing profits back in to the enterprise to help it grow.

Through the years the Company has had the good fortune to attract workers, both men and women, wholse loyalty, industry and ingenuity have fostered and extended the policies of the found and his successors.

Simonds Industries, Inc. with its headquarters located in Ftichburg, MA, is celebrating over a century and a half of service and productivity. Beginning as a small scythe making shop in West Fitchburg, MA in 1832, Simonds has grown into a multi-million dollar company, with manufacturing and sales offices worldwide. Simonds pre-Civil War beginnings were at a time which also saw the first successful steam locomotive begin operation and Cyrus McCormick invent his reaper. Simonds originally manufactured cutting tools used around the farm, and has evolved into the industry leader in the development of cutting tools for the metal, wood, and paper industries.

The company, originally under the guidance of Abel Simonds, later expanded into wood saws and machine knives. It was then known as J.T. Farwell and Company. As it continued to grow, the name was changed to Simonds Brothers and Company, and a few years later (1868) to Simonds Manufacturing Company. By 1879, Simonds developed an entirely new method of manufacturing saws, which achieved results far superior to any saws made before.

Simonds grew with the nation, and at one time owned its own steel mill in Lockport, New York. In 1922 the name of the company was changed to Simonds Saw and Steel company. In 1931, a new manufacturing facility was built in Fitchburg to replace the old one. The new plant featured straight line production, all on one level, with completely controlled lighting, temperature, humidity, noise, dust and smoke. The plant became famous as the world's first window-less factory, and is still in use today.

Simonds expanded across the continental United States, Canada, and into the world market. After World War II, the first High Speed Steel metal cutting bandsaw blades were introduced. This gave birth to the steel cut-off market, where horizontal bandsaw machines are used for metal cut-off operations.

Since the early 1900's Simonds sold files hat were being manufactured in Fitchburg. In 1956 Simonds purchased another file manufacturer, Heller Tool Company. This was one of the three largest file manufacturers that remained in North America at that time. This merget expanded the widely known "Red Tang" Simonds American Pattern file line with the Swiss Pattern Files being offered by Heller. That product merger continues through to the present, having stood the test of time.

In 1965, Simonds was purchased by Wallace Murray Corporation, anewly formed conglomerate from New York City. Wit this came a new era consisting of updating accounting and manufacturing procedures, streamlining product lines and adding new marketing strategies.

The early 1970's saw the development of the weld-edge bandsaw blade. The decision to aggressively pursue this product's development was yet another excellent decision on Simonds' behalf, as that industry has continued to be one of very high growth. Weld edge bandsaw blades are gradually replacing power hack saws and circular metal saws in many applications. Development of many ne products in this area, including carbide tipped saws have continued Simonds reputation as a leader and innovator.

In 1981, Simonds, along with the entire Wallace Murray Corporation, was purchased by Household International of Prospect Heights, Illinois, a mult-billion dollar company.

On April 7, 1988 using conventional leverage buyout techniques that included equity, mezzanine financing and asset based lending, Simonds was acquired from Household International, Inc. by private investors and management. The new privately held company was incorporated as Simonds Industries, Inc. a privately held, Delaware based corporation.

In June of 1988, Simonds purchased the wood cutting wide bandsaw division of Hannaco in Greenville, Mississippi, with the objective of more effectively servicing the growing southern sawmill market with Simonds wide bandsaw blades.

January 18, 1989, Simonds acquired Michigan Knife Company and with this move, Simonds became one of the world leaders in the cutting tool market and the acknowledged leader servicing the primary wood industry.

In December of 1990, Simonds also acquired market rights from Mainland in Vancouver, British Columbia, for products sold by Mainland in Western Canada. This acquisition increased Siomnds wood industry market share in that geographic area and served to complement our current wood line.

In 1991, Simonds also acquired the assets of A.H. Ralson Ltd. the last remaining industrial file manufacture in the United Kingdom. The purchase was finalized in 1991 and allowed Simonds to broaden its marketing base int eh United Kingdom, Europe, and Africa.

On January 21, 1992, Simonds purchased Wespa Metallsagenfabrik, located in Spangenberg, Germany. Wespa started in 1950 and is a manufacturer of metal cutting bandsaws and hacksaws. This addition to the other facilities and product lines will increase the company's presence in the European Community.

Effective May 28, 1995 SI Holdings Corporation purchased all of the stock of Simonds Industries, Inc. Fitchburg, MA. SI Holdings Corporation is made of Fleet Financial Group, a major commercial bank with assets over $80 billion and Simonds Industries' senior management. This new association will provide the resources for the future growth of Simonds Industries.

The world industrial markets, where our products are sold, are becoming more and more a global activity. We feel strongly that the industrial manufacturing base will continue to consolidate into a roster of larger organizations. It is the intent of Simonds Industries to continue to be a major player in the world industrial products markets.

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Company History provided by Simonds Industries. "Through the years the Company has had the good fortune to attract workers, both men and women, whose loyalty, industry and ingenuity have fostered and extended the policies of the found and his successors."
We would like to share with you this brief account of Simonds Industries, a cutting tool manufacturer founded in 1832. In essence, this is a story of a typical New England business handed on by father to son for four generations. The business has prospered under its leaders who have followed the consistent practice of plowing profits back in to the enterprise to help it grow. Through the years the Company has had the good fortune to attract workers, both men and women, wholse loyalty, industry and ingenuity have fostered and extended the policies of the found and his successors. Simonds Industries, Inc. with its headquarters located in Ftichburg, MA, is celebrating over a century and a half of service and productivity. Beginning as a small scythe making shop in West Fitchburg, MA in 1832, Simonds has grown into a multi-million dollar company, with manufacturing and sales offices worldwide. Simonds pre-Civil War beginnings were at a time which also saw the first successful steam locomotive begin operation and Cyrus McCormick invent his reaper. Simonds originally manufactured cutting tools used around the farm, and has evolved into the industry leader in the development of cutting tools for the metal, wood, and paper industries. The company, originally under the guidance of Abel Simonds, later expanded into wood saws and machine knives. It was then known as J.T. Farwell and Company. As it continued to grow, the name was changed to Simonds Brothers and Company, and a few years later (1868) to Simonds Manufacturing Company. By 1879, Simonds developed an entirely new method of manufacturing saws, which achieved results far superior to any saws made before. Simonds grew with the nation, and at one time owned its own steel mill in Lockport, New York. In 1922 the name of the company was changed to Simonds Saw and Steel company. In 1931, a new manufacturing facility was built in Fitchburg to replace the old one. The new plant featured straight line production, all on one level, with completely controlled lighting, temperature, humidity, noise, dust and smoke. The plant became famous as the world's first window-less factory, and is still in use today. Simonds expanded across the continental United States, Canada, and into the world market. After World War II, the first High Speed Steel metal cutting bandsaw blades were introduced. This gave birth to the steel cut-off market, where horizontal bandsaw machines are used for metal cut-off operations. Since the early 1900's Simonds sold files hat were being manufactured in Fitchburg. In 1956 Simonds purchased another file manufacturer, Heller Tool Company. This was one of the three largest file manufacturers that remained in North America at that time. This merget expanded the widely known "Red Tang" Simonds American Pattern file line with the Swiss Pattern Files being offered by Heller. That product merger continues through to the present, having stood the test of time. In 1965, Simonds was purchased by Wallace Murray Corporation, anewly formed conglomerate from New York City. Wit this came a new era consisting of updating accounting and manufacturing procedures, streamlining product lines and adding new marketing strategies. The early 1970's saw the development of the weld-edge bandsaw blade. The decision to aggressively pursue this product's development was yet another excellent decision on Simonds' behalf, as that industry has continued to be one of very high growth. Weld edge bandsaw blades are gradually replacing power hack saws and circular metal saws in many applications. Development of many ne products in this area, including carbide tipped saws have continued Simonds reputation as a leader and innovator. In 1981, Simonds, along with the entire Wallace Murray Corporation, was purchased by Household International of Prospect Heights, Illinois, a mult-billion dollar company. On April 7, 1988 using conventional leverage buyout techniques that included equity, mezzanine financing and asset based lending, Simonds was acquired from Household International, Inc. by private investors and management. The new privately held company was incorporated as Simonds Industries, Inc. a privately held, Delaware based corporation. In June of 1988, Simonds purchased the wood cutting wide bandsaw division of Hannaco in Greenville, Mississippi, with the objective of more effectively servicing the growing southern sawmill market with Simonds wide bandsaw blades. January 18, 1989, Simonds acquired Michigan Knife Company and with this move, Simonds became one of the world leaders in the cutting tool market and the acknowledged leader servicing the primary wood industry. In December of 1990, Simonds also acquired market rights from Mainland in Vancouver, British Columbia, for products sold by Mainland in Western Canada. This acquisition increased Siomnds wood industry market share in that geographic area and served to complement our current wood line. In 1991, Simonds also acquired the assets of A.H. Ralson Ltd. the last remaining industrial file manufacture in the United Kingdom. The purchase was finalized in 1991 and allowed Simonds to broaden its marketing base int eh United Kingdom, Europe, and Africa. On January 21, 1992, Simonds purchased Wespa Metallsagenfabrik, located in Spangenberg, Germany. Wespa started in 1950 and is a manufacturer of metal cutting bandsaws and hacksaws. This addition to the other facilities and product lines will increase the company's presence in the European Community. Effective May 28, 1995 SI Holdings Corporation purchased all of the stock of Simonds Industries, Inc. Fitchburg, MA. SI Holdings Corporation is made of Fleet Financial Group, a major commercial bank with assets over $80 billion and Simonds Industries' senior management. This new association will provide the resources for the future growth of Simonds Industries. The world industrial markets, where our products are sold, are becoming more and more a global activity. We feel strongly that the industrial manufacturing base will continue to consolidate into a roster of larger organizations. It is the intent of Simonds Industries to continue to be a major player in the world industrial products markets.

Company History provided by Simonds Industries.