BRISTOL, Conn., Aug 02, 2005 (BUSINESS WIRE) -- Barnes Group Inc. (NYSE: B) announced the closing on
August 1, 2005 of the sale of $100 million aggregate principal amount
of its 3.75% Convertible Senior Subordinated Notes due August 1, 2025.
This sale includes the initial purchasers' exercise of their $15
million aggregate principal amount of the notes pursuant to their
over-allotment option in addition to their commitment on July 26, 2005
to purchase $85 million aggregate principal amount.
This press release does not constitute an offer to sell or the
solicitation of any offer to buy any securities. The securities have
not been registered under the Securities Act of 1933, as amended, or
any state securities laws, and unless so registered may not be offered
or sold in the United States, except pursuant to an exemption from, or
in a transaction not subject to, the registration requirements of the
Securities Act and applicable state securities laws.
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 products 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 5,900 dedicated employees
at 60 locations worldwide contribute to Barnes Group Inc.'s success.
This release may contain certain forward-looking statements as
defined in the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are subject to risks and uncertainties that
may cause actual results to differ materially from those contained in
the statements. Investors are encouraged to consider these risks and
uncertainties as described within the Company's periodic filings with
the Securities and Exchange Commission, including the following: the
ability of the Company to integrate newly acquired businesses and to
realize acquisition synergies on schedule; changes in market demand
for the types of products and services produced and sold by the
Company; the Company's success in identifying and attracting customers
in new markets; the Company's ability to develop new and enhanced
products to meet customers' needs timely; the effectiveness of the
Company's marketing and sales programs; uninsured claims; increased
competitive activities that could adversely affect customer demand for
the Company's products; the availability of raw materials at prices
that allow the Company to make and sell competitive products; changes
in economic, political and public health conditions worldwide and in
the locations where the Company does business; interest and foreign
exchange rate fluctuations; regulatory changes; the possibility of
declines in the stock market; risks related to consolidation occurring
in the Company's industries; risks related to dependence on government
spending for defense-related products; the possibility of a downturn
in the automotive industry; risks related to loss or delay in
purchases by customers; risks related to pricing leverage of original
equipment manufacturers; risks related to not realizing all sales
expected from backlog or anticipated orders; the possibility of not
recovering all up-front costs related to original equipment
manufacturing programs and revenue sharing programs; risks related to
cost overruns and losses on fixed-price contracts; and the
possibilities of loss of key personnel, a shortage of skilled
employees and labor problems. The Company assumes no obligation to
update any forward-looking statements contained in this release.
SOURCE: Barnes Group Inc.
Barnes Group Inc.
Investor Relations
Brian D. Koppy, 860-973-2126
or
Corporate Communications
Stephen J. McKelvey, 860-973-2132
