SSMC <SSM> TO BUY CUTTERS EXCHANGE DIVISION SSMC Inc said it has executed a letter of understanding to acquire the Parts Catalog Division of <Cutters Exchange Inc> for an undisclosed amount. SSMC, spun off from the Singer Co <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.