Barnes Group Inc was founded in 1857 and organized as a Delaware corporation in 1925. The Company is an industrial and aerospace manufacturer and service provider, serving end markets and customers. Its engineered products and services are used in critical applications that provide transportation, manufacturing and technology. The Company operates under two business segments: Industrial and Aerospace. Industrial is a manufacturer of engineered, precision parts, products and systems for critical applications serving a diverse customer base in end-markets such as transportation, industrial equipment, consumer products, packaging, electronics, medical devices, and energy. Industrial segment participates in the design phase of components and assemblies whereby customers receive the benefits of application and systems engineering, new product development, testing and evaluation, and the manufacturing of final products. The Industrial segment competes with large and small companies engaged in the manufacture and sale of custom metal components and assemblies, precision molds, and hot runner systems. Industrial has manufacturing, distribution and assembly operations in the United States, Brazil, China, Germany, Mexico, Singapore, Sweden and Switzerland. Industrial also has sales and service operations in the United States, Brazil, Canada, China/Hong Kong, France, India, Italy, Japan, Mexico, the Netherlands, Portugal, Singapore, Slovakia, South Korea, Spain, Thailand and the United Kingdom. The Aerospace segment produces precision-machined and fabricated components and assemblies for original equipment manufacturer (OEM) turbine engine, airframe and industrial gas turbine builders. Aerospace also provides jet engine component maintenance overhaul and repair (MRO) services for turbine engine manufacturers, commercial airlines and the military. The Aerospace aftermarket business supplements jet engine OEMs' maintenance, repair and overhaul capabilities, and competes with the service centers of commercial airlines and other independent service companies for the repair and overhaul of turbine engine components. Aerospace's aftermarket facilities, located in Connecticut, Ohio and Singapore, engages in the repair and refurbishment of engineered components and assemblies such as cases, rotating life limited parts, rotating air seals, turbine shrouds, vanes and honeycomb air seals. The raw materials used to manufacture its products are grades and forms of steel, from rolled steel bars, plates and sheets to valve steel wires and sheets, grades and forms (bars, sheets, forgings and castings) of stainless steels, aluminum alloys, titanium alloys, graphite, and iron-based, nickel-based (Inconels) and cobalt-based (Hastelloys) superalloys for complex aerospace applications. The Company is a party to certain licenses and holds patents, trademarks, and trade names, which are important to certain business units and enhance its position. Compliance with federal, state, and local laws, as well as those of other countries, which have been enacted or adopted regulating the discharge of materials into the environment or otherwise relating to the protection of the environment has not had a material effect, and is not expected to have a material effect, upon capital expenditures, earnings, or competitive position.
Benzinga is a fast-growing, dynamic and innovative financial media outlet that empowers investors with high-quality, unique content.