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Simmons Machine Tool poised to sign milestone contract in Brazil

Resource from:  Albany Business Review Likes:215
Mar 07,2014
Simmons Machine Tool Corp. in Menands, NY is close to signing a contract with a Brazilian mining company that would secure the biggest deal in the Simmon's history. "This is a very large contract that will extend through 2015," said David Davis, president and chief operating officer of Simmons Machine Tool Corp. "It will add a significant increase to our work load and add a 20 percent increase in sales." Simmons makes industrial lathes, presses and boring machines for the railroad industry. Simmons already has won a contract to design a production facility for the Brazilian mining company. A second contract is in the final stages of negotiation that would be three times bigger than any project the company has secured. In a typical year, Simmons manufactures more than 20 machines. The Brazilian company would purchase as many as 17 rail wheel maintenance machines. The average cost is about $1.5 million a piece. Davis said the new contract could be approved in the next few months. The Brazilian mining company is in the process of developing a site that would transport iron ore from a mine to a nearby port.
(Albany Business Review)
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