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|Barnes Group Files Follow-on Offering of Common Stock|
BRISTOL, Conn.--(BUSINESS WIRE)--May 7, 2003--Barnes Group Inc. (NYSE: B) today announced that it intends to commence a public offering of 2,823,506 shares of its common stock. Of the total shares being offered for sale, 2,000,000 will be offered by the Company and the remainder will be offered by GC-Sun Holdings II, L.P., an existing stockholder. In addition, the Company intends to grant to the underwriters of the public offering an option to purchase up to 423,525 additional shares to cover over-allotments, if any.
The shares of Barnes Group common stock will be offered pursuant to a preliminary prospectus supplement and accompanying prospectus related to a shelf registration statement previously filed with the Securities and Exchange Commission that was declared effective on April 11, 2003.
Barnes Group has appointed Banc of America Securities LLC as book-running manager of the offering. Co-managers of the offering will be McDonald Investments Inc., Robert W. Baird & Co. and BB&T Capital Markets.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
The offering of these securities may be made only by means of a prospectus and the related prospectus supplement. When available, copies of such documents may be obtained from the book-running manager at the following address: Banc of America Securities LLC, Prospectus Department, 100 West 33rd Street, New York, New York 10001.
Barnes Group Inc. (www.barnesgroupinc.com) is a diversified international manufacturer of precision metal components and distributor of industrial supplies, serving a wide range of markets and customers. Barnes Group consists of three businesses: Associated Spring, one of the world's largest manufacturers of precision mechanical and nitrogen gas springs; Barnes Aerospace, a manufacturer and repairer of highly engineered assemblies and products for commercial and military aircraft engines, airframes, and land-based industrial gas turbines; and Barnes Distribution, an international, full-service distributor of maintenance, repair and operating supplies.
CONTACT: Barnes Group Inc. Investor Relations Phillip J. Penn, 860/973-2126 or Corporate Communications Stephen J. McKelvey, 860/973-2132 SOURCE: Barnes Group Inc.