Barnes Group Inc. operates as an international industrial and aerospace manufacturer and service provider, serving a range of end markets and customers. Segments The company’s segments include Industrial and Aerospace. Industrial This segment includes the Molding Solutions, Engineered Components and Nitrogen Gas Products business units. Industrial is a global manufacturer of precision parts, products and systems for critical applications serving a customer base in end-markets, such as transportation, industrial equipment, consumer products, packaging, electronics, medical devices, and energy. Focused on custom solutions, Industrial participates in the design phase of components and assemblies whereby customers receive the benefits of application and systems engineering, new product development, testing and evaluation, and the manufacturing of final products. Products are sold primarily through its direct sales force and global distribution channels. Industrial’s Molding Solutions businesses design and manufacture customized hot runner systems, advanced mold cavity sensors and process control systems, and precision high cavitation mold assemblies - collectively, the enabling technologies for many complex plastic injection molding applications. Industrial’s Engineered Components businesses manufacture and supply precision mechanical products used in transportation and industrial applications, including mechanical springs, high-precision punched and fine-blanked components, and retaining rings. Engineered Components is equipped to produce every type of highly engineered precision spring, from fine hairsprings for electronics and instruments to large heavy-duty springs for machinery. Industrial’s Nitrogen Gas Products business manufactures nitrogen gas springs and manifold systems used to precisely control stamping presses. Aerospace This segment includes the original equipment manufacturer (OEM) business and the aftermarket business, which includes maintenance overhaul and repair (MRO) services and the manufacture and delivery of aerospace aftermarket spare parts. Aerospace is a global provider of complex fabricated and precision machined components and assemblies for OEM turbine engine, airframe and industrial gas turbine builders, and the military. The Aerospace aftermarket business provides jet engine component MRO services, including services performed under its Component Repair Programs (CRPs), for many of the major turbine engine manufacturers, commercial airlines and the military. The Aerospace aftermarket activities also include the manufacture and delivery of aerospace aftermarket spare parts, including the revenue sharing programs (RSPs) under which it receives a right to supply designated aftermarket parts over the life of the related aircraft engine programs. The Aerospace aftermarket business supplements jet engine OEMs’ maintenance, repair and overhaul capabilities, and competes with the service centers of major commercial airlines and other independent service companies for the repair and overhaul of turbine engine components. Sales by Aerospace to its two major customers, General Electric and Roll-Royce, accounted for approximately 51% and 11% of its sales in 2015, respectively. Research and Development For the fiscal year ended December 31, 2015, the company spent approximately $13 million on research and development activities. Acquisitions In 2015, the company completed the acquisition of privately held Priamus System Technologies AG and two of its subsidiaries (collectively, Priamus) from Growth Finance AG. Priamus has direct sales and service offices in the U.S. and Germany. Priamus engages in the development of process control systems for the plastic injection molding industry and services many of the plastic injection molders in the medical, automotive, consumer goods, electronics and packaging markets. In 2015, the company completed the acquisition of the Thermoplay business (Thermoplay) by acquiring all of the capital stock of privately held HPE S.p.A., the parent company through which Thermoplay operates. Thermoplay specializes in the design, development, and manufacturing of hot runner systems for plastic injection molding, primarily in the packaging, automotive, and medical end markets. History Barnes Group Inc. was founded in 1857.
barnes group inc (B:New York)
123 Main Street
Bristol, CT 06010
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