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.
Brian D. Koppy, 860-973-2126
Investor Relations
or
Stephen J. McKelvey, 860-973-2132
Corporate Communications
SOURCE: Barnes Group
