Tariffs forcing Simonds Saw to sell Fitchburg office, lay off employees
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Simonds Saw is located at 135 Intervale Road in Fitchburg.
Sharpening tools manufacturer Simonds Saw announced Thursday it has entered into an agreement to sell its property at 135 Intervale Road in Fitchburg as it cuts back its manufacturing and lays off employees in Fitchburg due to tariff pressures, although it plans to retain its corporate offices at the location.
The company has entered an agreement with CFI partners of Boston to sell the property, which has been home of Simonds since the 1930’s. According to Simonds President Dave Miles, the company has changed over the years and uses less than one third of the space in the building.
The decision to sell the Fitchburg property was influenced by an agreement with Kaltband AG of Reinach Switzerland to outsource the production of bandsaw blades previously produced at the site, according to Simonds Saw Treasurer and Director of Finance Philip Cochran. As part of the deal, the equipment will be sold to Kaltband and moved overseas. The decision was made as a result of the pressures from steel tariffs.
“The cost of the importation of the specialized steel from Europe to the United States has become uncompetitive due to the post tariff price levels and transportation costs to/from Europe," said Miles in a statement.
This deal will result in the loss of manufacturing jobs at Simonds Saw's Fitchburg location, although Cochran declined to provide the number of employees to be affected. Simonds has manufacturing operations in Louisville, Ky. and Melsungen, Germany.
Simonds will continue to operate its corporate offices, customer service call center, and R&D/education technology center out of Fitchburg.
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