Barnes Industrial Receives Bosch Supplier Award.BRISTOL, Conn. -- Barnes Industrial, a business segment of Barnes Group Inc. (NYSE NYSE See: New York Stock Exchange : B), announced that its operating unit operating unit A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon Heinz Hanggi has been presented with the Bosch Group's Supplier Award. The Bosch Supplier Award honors Heinz Hanggi's outstanding work in the manufacturing of precision components for Bosch. "To receive an award from a valued business partner like Bosch is a credit to Heinz Hanngi's commitment to continuous improvement in providing the highest quality precision manufactured components to our customers," said Jerry W. Burris, President, Barnes Industrial. "It is the employees of Heinz Hanggi who earned this recognition from Bosch. Heinz Hanggi is honored to be recognized with this prestigious award. "Our Heinz Hanggi operating unit is a premier global provider of precision components for critical applications. Its lean manufacturing Lean manufacturing is the production of goods using less of everything compared to mass production: less human effort, less manufacturing space, less investment in tools, and less engineering time to develop a new product. practices set the standard which Barnes Industrial manufacturing units are focused on achieving," continued Burris. This is now the eleventh time Bosch has conferred its supplier award since 1987. This biannual bi·an·nu·al adj. 1. Happening twice each year; semiannual. 2. Occurring every two years; biennial. bi·an award is open to suppliers around the world. This year, the award was given in five categories to a total of 47 companies from 14 countries. This is the seventh time that Heinz Hanggi has won the award. The award-winners were honored at a ceremony in Stuttgart's Staatsgalerie museum in early July, 2007. In 2006, the Bosch Group's total purchasing volume was approximately 23 billion euros. The share of purchases made outside of Germany was more than 50 percent, with the major sourcing markets being the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Eastern Europe Eastern Europe The countries of eastern Europe, especially those that were allied with the USSR in the Warsaw Pact, which was established in 1955 and dissolved in 1991. , China and Japan. Bosch purchased manufacturing materials such as electronic components, mechanical and electromechanical The use of electricity to run moving parts. Disk drives, printers and motors are examples. Electromechanical systems must be designed for the eventual deterioration of moving components that wear over time. The first TVs were electromechanical systems (see video/TV history). components, services, merchandise and capital goods Capital Goods Any goods used by an organization to produce other goods. Notes: Examples of capital goods include office buildings, equipment, and machinery. See also: Capital Expenditure, Disinvestment Capital goods . Barnes Industrial is an industrial components manufacturer of a broad range of high-quality, highly engineered products for a diverse customer base. The Barnes Industrial business segment consists of six strategic business units (SBUs): Precision Forming; Retention Rings; Nitrogen Gas Products; Precision Valves; Engineered Springs; and Plastics. Celebrating its 150th anniversary in 2007, Barnes Group Inc. (NYSE:B) is an international aerospace and industrial components manufacturer and full-service distribution company focused on achieving consistent, sustainable and predictable results. Founded in 1857, Barnes Group consists of three businesses: Barnes Aerospace, Barnes Distribution and Barnes Industrial. Over 6,600 dedicated employees at more than 65 locations worldwide contribute to Barnes Group Inc.'s success. For more information, visit www.barnesgroupinc.com. |
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