(Spencer)– Two local manufacturers are merging.
Cycle Country of Milford is acquiring Simonsen Iron Works, Incorporated of Spencer for seven million dollars in cash. Under the deal, Cycle Country will also issue 1.2 million shares of stock to the founders of Simonsen.
Officials with both companies say there will be no major changes in operations at either location.
Cycle Country manufactures accessories for all-terrain-vehicles and employs about 70 people. Simonsen produces metal products, including fabricated parts for Cycle Country. Simonsen employs 66 workers.
Officials say the deal will be finalized over the next 60 days.
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