FITCHBURG, MASS.— The recent merger of Simonds Industries, Inc., a provider of industrial cutting tools, and International Knife and Saw, a provider of industrial knife products, won't directly affect industrial distributors. The merged company, Simonds International Corp., will offer cutting tools and related products to the wood, pulp, paper and metal industries, as well as others.

"With our products, cutting tools and machinery for saw mills, the benefits of the merger are more for our saw mills customers, who don't work much with the traditional distributor," said Ray Martino, president and CEO of Simonds. "This merger shouldn't impact distributors in the industry at all."

In conjunction with the merger, Simonds announced a plan to recapitalize the company that will reduce its indebtedness, opening the way for renewed investment to continue its business momentum. Simonds' lenders unanimously agreed to a debt for equity exchange in order to accomplish the recapitalization of the company.

"The merger and recapitalization plan is the final phase of restructuring undertaken by Simonds," said Martino. "The restructuring plan demonstrates the commitment made to our customers, vendors and employees to focus on delivering new products, improving customer satisfaction and strengthening the company's financial structure."