BRISTOL, Conn.--(BUSINESS WIRE)--April 6, 2006--Barnes Aerospace,
a business unit 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 for the life of the related engine program. This
agreement, Barnes Aerospace's eighth, is its second for the GE CF6
engine family.
"Barnes Aerospace continues to identify and enter into aftermarket
RSP agreements on successful global engine programs with our OEM
customers," said Patrick J. Dempsey, President, Barnes Aerospace.
"These aftermarket RSPs are an excellent complement to our aftermarket
maintenance repair and overhaul operations and provide further
portfolio diversification in support of the Company's objective of
generating balanced, sustainable, profitable growth."
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.
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
2005 sales of $1.1 billion: 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 assemblies; and Barnes
Aerospace, a manufacturer and repairer of highly engineered assemblies
and components of 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. The
Company has paid cash dividends to stockholders on a continuous basis
since 1934.
This release may contain forward-looking statements within the
meaning of 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 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;
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. We assume 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 Inc.
