Barnes Group Inc. Announces New Aftermarket Revenue Sharing Agreement.BRISTOL, Conn. -- Barnes Aerospace, a business unit of Barnes Group Inc. (NYSE NYSE See: New York Stock Exchange : B), today announced that it has entered into a new aftermarket Aftermarket See: Secondary market. aftermarket See secondary market. Revenue Sharing revenue sharing Funding arrangement in which one government unit grants a portion of its tax income to another government unit. For example, provinces or states may share revenue with local governments, or national governments may share revenue with provinces or states. Program (RSP RSP right sacroposterior (position of the fetus). ) agreement with General Electric Company (NYSE: GE). Barnes Aerospace's aftermarket RSPs provide the exclusive right to supply designated aftermarket parts to GE for the life of the related engine program. This agreement relates to spare parts Spare parts, also referred to as Service Parts is a term used to indicate extra parts available and in proximity to the mechanical item, such as a automobile, boat, engine, for which they might be used. Spare parts are also called “spares. for the CFM56 and CF6 engine families. "Barnes Aerospace's continued ability to provide high quality parts and engineering services enables us to further our relationship with a valued customer like GE," said Patrick J. Dempsey, President, Barnes Aerospace. "In addition, we are able to further leverage our manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. in Singapore and the benefits associated with this strategic manufacturing location." The CFM56 engine powers short-, medium- and long-range aircraft. Twelve different aircraft models are powered by the CFM56 including the Boeing 737 and the Airbus A320 family of aircraft. The CFM56 design uses a number of common parts within its engine family. CFM56 engines are produced by CFM International (CFM), a 50/50 joint company between Snecma and General Electric Company. GE's CF6 family of turbofan engines, which power wide-body aircraft produced by Boeing and Airbus, is the most popular family of high-bypass turbofan engines in the world. The CF6 is currently certified on multiple wide-body aircraft models including the Boeing 747, Boeing 767, DC-10, MD-11 and Airbus A300, A310 and A330 aircraft series. Barnes Aerospace provides jet engine component aftermarket overhaul and repair services for many of the world's major commercial airlines and military applications. Barnes Aerospace also produces precision machined and fabricated fab·ri·cate tr.v. fab·ri·cat·ed, fab·ri·cat·ing, fab·ri·cates 1. To make; create. 2. To construct by combining or assembling diverse, typically standardized parts: components and assemblies for OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and turbine, airframe and industrial gas turbine builders throughout the world. Barnes Group Inc. (www.barnesgroupinc.com) 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, Connecticut Bristol is a city located in Hartford County, Connecticut, 20 miles (32 km) southwest of Hartford. According to 2006 Census Bureau estimates, the population of the city is 61,353. , 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. Over 6,500 dedicated employees at more than 65 locations worldwide contribute to Barnes Group Inc.'s success. The Company has paid cash dividends to stockholders on a continuous basis since 1934. This release may contain certain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. as defined in the Private Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called 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 expressed in the forward-looking statements. The risks and uncertainties, which are described in our periodic filings with the Securities and Exchange Commission, include, among others, uncertainties arising from the behavior of financial markets; future financial performance of the industries or customers that we serve; changes in market demand for our products and services; integration of acquired businesses; changes in raw material prices and availability; our dependence upon revenues and earnings from a small number of significant customers; uninsured claims; and numerous other matters of global, regional or national scale, including those of a political, economic, business, competitive, regulatory and public health nature. The Company assumes no obligation to update our forward-looking statements. |
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