Barnes Group Inc. to Acquire Swiss Manufacturer
Barnes Group Inc., Bristol, CN, has agreed
to acquire Heinz Hanggi AG, Stanztechnik of Bettlach, Switzerland, a developer
and manufacturer of high-precision punched and fine-blanked components, for a
combination of cash and Barnes Group Inc. common stock. The acquisition is
expected to close in the second quarter of this year and will add about $30
million in annual sales to Barnes Group's Associated Spring
"Heinz Hanggi AG is a terrific
strategic fit with our Associated Spring operation and is consistent with our
focus on acquiring specialty, higher margin businesses which offer superior
manufacturing capabilities to customers," said Edmund M. Carpenter, president
and CEO, Barnes Group Inc.
Heinz Hanggi ...