Barnes Group Inc., Bristol, CT, international aerospace and industrial components manufacturer and logistical services company, has sold several of its units in the UK.
 
The UK Motalink business, Corsham, England, was sold, as well as certain assets of its UK direct sales to car dealerships unit, and the systems and catalog unit.
 
These were all a part of the company’s Logistics and Manufacturing Services segment in Europe.
 
The Logistics and Manufacturing Services management team in Europe is also exiting the Corsham facility, eliminating the telesales and back office functions currently at the site. The Toolcom, UK, and the Kent, UK, businesses will not see any impact. The Dunfermline, UK, site will continue to support the Toolcom and Kent businesses.
 
The Logistics and Manufacturing Services European management team is actively working to stabilize and improve the operational performance and cost structure of the European operations,” said Patrick Dempsey, president, Logistics and Manufacturing Services, Barnes Group Inc. “Eliminating non-core underperforming assets in the U.K. will provide for a more focused approach to the market.”
 
The total charges associated with these actions are estimated to be approximately $3.7 million before taxes, which will be recorded in the fourth quarter of 2008. Revenues associated with the exited businesses were approximately $20.0 million in 2007. The reduction in fixed cost structure is expected to put Barnes Distribution Europe in a stronger position.
 
Barnes Group is a diversified global manufacturer and logistical services company focused on providing precision component manufacturing and operating service support. The company has more than 70 locations worldwide.