|11/04/13 at 4:30 p.m. ET|
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|Barnes Group Inc. Announces Opening of an International Sourcing Center in Shanghai|
BRISTOL, Conn.--(BUSINESS WIRE)--June 11, 2007--The Barnes Distribution business segment of Barnes Group Inc. (NYSE:B) today announced the opening of an international sourcing center in Shanghai, China. The international sourcing center is located in the Xujiahui District in Shanghai, the commercial capital of China.
"Our continued efforts to service our customers as effectively and efficiently as possible will be enhanced with the opening of the international sourcing center in Shanghai," said Idelle K. Wolf, President, Barnes Distribution. "Our presence in Shanghai will provide a competitive edge for Barnes Distribution, and is an important milestone within the Global Product Sourcing initiative of Barnes Distribution's previously announced Project Catalyst.
"Project Catalyst initiatives are focused on streamlining Barnes Distribution's operations, improving sales, accelerating profitability, and generating greater customer satisfaction and delivery metrics. Coupled with an extensive network of reliable global suppliers, our investment in Shanghai is part of our forward development of a rigorous product quality assurance system," continued Wolf.
China has a well-established supplier base, particularly for key products such as fasteners, electrical components, and various transportation product lines. The Shanghai sourcing center will complement a previously established sourcing center in Taiwan. Together, the two offices will work to cover Asia.
A market leader in vendor managed inventory, Barnes Distribution is a full service distributor of maintenance, repair, operating and production supplies. Barnes Distribution distributes products in more than 40 countries and is supported by distribution centers and sales centers across the globe. Barnes Distribution provides a wide variety of high-volume replacement parts and other products as well as inventory management and logistics services to a diverse customer base.
Celebrating its 150th anniversary in 2007, Barnes Group Inc. (NYSE:B) is an international aerospace and industrial components manufacturing and distribution company focused on achieving consistent, sustainable and predictable results. Founded in 1857, Barnes Group consists of three businesses: Barnes Aerospace, Barnes Distribution and Barnes Industrial. Over 6,600 dedicated employees at more than 65 locations worldwide contribute to Barnes Group Inc.'s success. The Company has paid cash dividends to stockholders on a continuous basis since 1934. For more information, visit www.barnesgroupinc.com.
CONTACT: Barnes Group Inc.