|10/25/13 at 8:30 a.m. ET|
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|Associated Spring Announces Acceptance of National Pension and Healthcare Contract|
BRISTOL, Conn.--(BUSINESS WIRE)--Jan. 13, 2006--Associated Spring, a business unit of Barnes Group Inc. (NYSE: B), today announced that employee members of United Auto Workers (UAW) collective bargaining units at Associated Spring's facilities in Bristol, Connecticut, Corry, Pennsylvania, and Saline, Michigan have voted to ratify a 38-month national agreement for pension and healthcare benefits. The agreement, which covers approximately 475 employees and approximately 800 retirees, is effective as of January 1, 2006, and will expire February 28, 2009.
"Associated Spring and the UAW have worked diligently to address the global competitiveness of the Company," said Gregory F. Milzcik, President, Associated Spring. "This agreement begins to deal with the escalating long-term healthcare and retiree medical costs that represent a significant challenge to the competitive position of American manufacturers such as Associated Spring."
In addition, Associated Spring also announced the ratification of three-year local collective bargaining agreements with UAW Local 712 at the Bristol, Connecticut facility and UAW Local 629 at the Corry, Pennsylvania facility.
Barnes Group Inc. (www.barnesgroupinc.com) is a diversified international manufacturer of precision metal components and assemblies and a distributor of industrial supplies, serving a wide range of markets and customers. Founded in 1857 and headquartered in Bristol, Connecticut, Barnes Group consists of three businesses with 2004 sales of $994.7 million: Barnes Distribution, an international, full-service distributor of maintenance, repair, operating, and production supplies; Associated Spring, one of the world's largest manufacturers of precision mechanical and nitrogen gas springs and a global supplier of retaining rings, reed valves, shock discs, and injection-molded plastic components; and Barnes Aerospace, a manufacturer and repairer of highly engineered assemblies and components for commercial and military aircraft engines, airframes, and land-based industrial gas turbines. Over 6,000 dedicated employees at more than 60 locations worldwide contribute to Barnes Group Inc.'s success.
CONTACT: Barnes Group Inc.