SSMC &lt;SSM> TO BUY CUTTERS EXCHANGE DIVISION
  SSMC Inc said it has executed a
  letter of understanding to acquire the Parts Catalog Division
  of &lt;Cutters Exchange Inc> for an undisclosed amount.
      SSMC, spun off from the Singer Co &lt;SMF> a year ago, said
  that the Parts Catalog Division wholesales parts and needles to
  the industrial sewing trade in the U.S.
      Under the agreement, key managers and employees of the
  Parts Catalog Division in Nashville, Tenn, will relocate to the
  SSMC facility in Murfreesboro, SSMC said.
  

