Barnes Group Inc. Completes Curtis Acquisition.Business Editors BRISTOL, Conn.--(BUSINESS WIRE)--May 11, 2000 Barnes Group Inc. (NYSE NYSE See: New York Stock Exchange :B) announced today completion of its acquisition of Curtis Industries, Inc., of Mayfield Heights, Ohio Mayfield Heights is a city in Cuyahoga County, Ohio, United States. The population was 19,386 at the 2000 census. Mayfield Heights was originally part of Mayfield Township. Geography Mayfield Heights is located at (41. . Curtis Industries is a national leader in the distribution of maintenance, repair and operating (MRO MRO In currencies, this is the abbreviation for the Mauritanian Ouguiya. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) supplies and high quality security products with 1999 sales in excess of $80 million. The purchase price is $62.1 million, and initially financed through an existing credit agreement. Curtis Industries has been combined with Barnes Group's Bowman Distribution to form Barnes Distribution. Keith Drewett, 53, has been appointed president, Barnes Distribution and Idelle Wolf, 48, has been appointed chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Barnes Distribution. Mr. Drewett is the former president and chief executive officer of Curtis Industries, Inc., and Ms. Wolf is the former chief operating officer of Curtis Industries. Together Drewett and Wolf bring more than 40 years of MRO experience to Barnes Distribution. "This transaction gives us a highly experienced leadership team for Barnes Distribution, expands our product offerings to customers, provides us with excellent leverage in our materials purchases and other vendor relationships, and with opportunities to improve customer service," said Edmund M. Carpenter, president and chief executive officer. Barnes Group Inc. (http://www.barnesgroupinc.com), is a diversified diversified (di·verˑ·s international manufacturer of precision metal parts and distributor of industrial supplies, serving a wide range of markets and customers. Founded in 1857, Barnes Group consists of three separate businesses with 1999 sales of $622 million. Barnes Group employs approximately 4,000 people worldwide. 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 Public 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 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 Inc., changes in worldwide economic and political conditions, interest and foreign exchange rate fluctuations, regulatory changes, and an inability to achieve the benefits of the combined operations For the department of the British War Office during World War II, see . In the military, combined operations are operations conducted by forces of two or more allied nations acting together for the accomplishment of a single mission. See also
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