Barnes Distribution Consolidates West Coast Facilities.
BRISTOL, Conn.--(BUSINESS WIRE)--Aug. 8, 2001
Barnes Distribution, a business unit of Barnes Group Inc. (NYSE: B), announced that it will be consolidating its four West Coast distribution centers into a single, centrally-located facility in Reno, Nevada. The facilities to be consolidated are located in Bakersfield, California; Auburn, Washington; Las Vegas, Nevada; and Sparks, Nevada. The consolidation will be completed by the end of the fourth quarter.
The consolidation of the West Coast distribution centers into a single location will increase operating efficiency while reducing operating expenses, inventory and transportation costs. Cost savings from the consolidation are expected to be approximately $750,000 annually.
"Reducing our total number of distribution centers was a key value driver behind the Bowman/Curtis integration we executed last year. This consolidation of the West Coast distribution centers is an important step in completing our post-acquisition strategy," said A. Keith Drewett, President, Barnes Distribution. "The Reno distribution center will be organized to stock consolidated product line inventory to support all of the West Coast region, providing improved service to our customers there," added Drewett.
Employees at each of the closing facilities will be considered for positions at the new facility. Those employees choosing not to pursue this option will be offered a severance package. The estimated number of employees affected by this decision will be approximately 20.
Barnes Group Inc. (www.barnesgroupinc.com) is a diversified international manufacturer of precision metal parts and distributor of industrial supplies, serving a wide range of markets and customers. Founded in 1857 and headquartered in Bristol, Connecticut, Barnes Group consists of three businesses with 2000 sales of $740 million: Associated Spring, North America's largest manufacturer of precision mechanical and nitrogen gas springs; Barnes Aerospace, a manufacturer and repairer of highly engineered aircraft engine and airframe components and assemblies; and Barnes Distribution, an international distributor of maintenance, repair and operating supplies. Nearly 5,400 dedicated employees at more than 50 locations worldwide contribute to Barnes Group Inc.'s success.
This release may contain certain forward-looking statements as defined in the Public 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 contained in the statements. Investors are encouraged to consider these risks and uncertainties as described within the Company's periodic filings with the Securities and Exchange Commission, including the following: changes in market demand for the types of products and services produced and sold by Barnes Group, the company's success in attracting customers in new markets, changes in worldwide economic and political conditions, interest and foreign exchange rate fluctuations, regulatory changes, and the ability of the Company to integrate newly acquired businesses and to realize acquisition synergies on schedule.
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|Date:||Aug 8, 2001|
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