NEW YORK — New York’s brass chime company will get a $200 million upgrade.
The brass chingling company, which employs more than 700 people, said on Wednesday that it would get a new clock, two more bells, a new music player and a new chime.
The company also plans to add a more modern look to its signature chimes.
The company announced on Wednesday it had agreed to buy a $300 million, 10-year lease on the New York State Armory’s Chimes and Chimes Clockhouse, which was purchased in 2009.
The lease expires in 2020.
The deal, which also includes a 10-million-dollar renovation of the clockhouse, comes at a time when the clockmaking industry is struggling.
In April, a company called The Clock Factory filed for bankruptcy protection.
The new chimes come on the heels of a deal between the city and the United States Postal Service to upgrade the city’s chimes, which are part of the city-owned city clock.
The city said last week it had signed a contract with the Postal Service for the new clock.
The New York Times reported on Tuesday that the City of New York had purchased a clock from the National Association of Clockmakers for $100,000 and that the new brass chiming was expected to be finished in the first half of 2019.