|11/04/13 at 4:30 p.m. ET|
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|Barnes Group Inc. Announces New Aftermarket Revenue Sharing Agreement|
BRISTOL, Conn.--(BUSINESS WIRE)--April 9, 2007--Barnes Aerospace, a business segment of Barnes Group Inc. (NYSE: B), today announced that it has entered into a new aftermarket Revenue Sharing Program (RSP) agreement with General Electric Company (NYSE: GE). Barnes Aerospace's aftermarket RSPs provide the exclusive right to supply designated aftermarket parts to GE for the life of the related engine program. This agreement relates to spare parts for the CFM56 and CF6 engine families.
"Barnes Aerospace continues to position itself as a strategic partner to our customers, and the addition of another Revenue Sharing Program on key aerospace platforms further broadens our portfolio and leverages our worldwide manufacturing operations," said Patrick Dempsey, President, Barnes Aerospace.
The CFM56 engine powers short-, medium- and long-range aircraft. Twelve different aircraft models are powered by the CFM56 including the Boeing 737 and the Airbus A320 family of aircraft. The CFM56 design uses a number of common parts within its engine family. CFM56 engines are produced by CFM International, a 50/50 joint company between Snecma and General Electric Company.
GE's CF6 family of turbofan engines, which power wide-body aircraft produced by Boeing and Airbus, is the most popular family of high-bypass turbofan engines in the world. The CF6 is currently certified on multiple wide-body aircraft models including the Boeing 747, Boeing 767, DC-10, MD-11 and Airbus A300, A310 and A330 aircraft series.
Barnes Aerospace provides jet engine component aftermarket overhaul and repair services for many of the world's major commercial airlines and military applications. Barnes Aerospace also produces precision machined and fabricated components and assemblies for OEM turbine, airframe and industrial gas turbine builders throughout the world.
Celebrating its 150th anniversary in 2007, Barnes Group Inc. is an international diversified 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 Associated Spring. 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.
This release may contain certain forward-looking statements as defined in the Private Securities Litigation and Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed in the forward-looking statements. The risks and uncertainties, which are described in our periodic filings with the Securities and Exchange Commission, include, among others, uncertainties arising from the behavior of financial markets; future financial performance of the industries or customers that we serve; changes in market demand for our products and services; integration of acquired businesses; changes in raw material prices and availability; our dependence upon revenues and earnings from a small number of significant customers; uninsured claims; and numerous other matters of global, regional or national scale, including those of a political, economic, business, competitive, regulatory and public health nature. The Company assumes no obligation to update our forward-looking statements.
CONTACT: Barnes Group Inc.