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
unit.
“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 AG offers
solutions in the area of micro-punching, progressive die tooling and
fine-blanking from prototypes to complete assemblies. Its range of manufacturing
solutions allows the company to serve diversified industries, including
high-precision components for transportation suppliers, the power tools sector,
the watch industry, consumer electronics, telecommunications, medical devices,
and textile machinery sectors. A majority of the company’s sales are in Europe,
and it is a significant global producer of orifice plates, used in fuel
injectors.
href=”http://www.barnesgroupinc.com/” target=_blank>Barnes Group Inc. 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, CN, 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.
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