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|Barnes Group Announces Expanded Distribution in China|
BRISTOL, Conn.--(BUSINESS WIRE)--Dec. 20, 2006--The Barnes Distribution business unit of Barnes Group Inc. (NYSE: B) today announced the expansion of its AS Raymond operations in China with the opening of a dedicated office and distribution center in the Pudong New District of Shanghai, China. The new facility will service the growing market for close tolerance components, such as industrial and mechanical springs within China. The new distribution center will open on January 1, 2007.
"AS Raymond, our specialized spring provider, continues to expand its global distribution operations to meet the demands of our worldwide customer base," said Idelle K. Wolf, President, Barnes Distribution. "With the expansion of our distribution operation into China, we are strengthening our presence in a growing manufacturing center in Asia, where our customers are seeking high-quality specialty mechanical springs and spring washers."
A worldwide leader in the design, manufacturing and sale of industrial springs, AS Raymond, provides components to industry, including AS Raymond(R) die springs, SPEC(R) stock springs and spring washers, die springs, MRO products, nitrogen gas springs, gas struts and fasteners. In addition, AS Raymond offers a wide range of stock and custom made compression and extension springs, curved washers, finger washers, retaining rings, and m-Strut(TM) mechanical spring struts through its catalog offering and distribution base.
Barnes Group Inc. (NYSE:B) is an international diversified industrial manufacturing and distribution company focused on achieving balanced, sustainable, profitable growth. Founded in 1857, Barnes Group consists of three businesses: Barnes Distribution, Associated Spring and Barnes Aerospace. Over 6,500 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.