BRISTOL, Conn.--(BUSINESS WIRE)--Barnes Group Inc. (NYSE: B), an international industrial and aerospace manufacturer and service provider, today announced that it has entered into a long-term aerospace supply agreement with UTC Aerospace Systems, a unit of United Technologies Corp. (NYSE: UTX). Under the agreement, Barnes Group will provide nacelle inlet bulkheads for the Airbus A320neo family of aircraft equipped with Pratt & Whitney’s PW1100G-JM PurePower® engines. In addition, Barnes Group will be the exclusive supplier to UTC Aerospace Systems of the pylon forward secondary structure for the Airbus A350 family of aircraft and of the nacelle inlet bulkheads for the Embraer E2 aircraft, the Mitsubishi Regional Jet, and the Bombardier CSeries aircraft.
“As a result of Barnes Aerospace’s commitment to United Technologies Corp.’s high standards for quality, performance and cost-competitiveness, Barnes and UTC Aerospace Systems have strengthened our relationship to ensure our mutual success,” said Richard R. Barnhart, Senior Vice President, Barnes Group Inc. and President, Barnes Aerospace. “This long-term supply agreement positions Barnes Aerospace as an important supplier on some of the industry’s leading aircraft, while strengthening our business outlook in the years to come.”
About Barnes Group
Founded in 1857, Barnes Group Inc. (NYSE: B) is an international industrial and aerospace manufacturer and service provider, serving a wide range of end markets and customers. The highly engineered products, differentiated industrial technologies, and innovative solutions delivered by Barnes Group are used in far-reaching applications that provide transportation, manufacturing, healthcare products, and technology to the world. Barnes Group’s approximately 4,700 skilled and dedicated employees around the globe are committed to achieving consistent and sustainable profitable growth. For more information, visit www.BGInc.com.
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements often address our expected future operating and financial performance and financial condition, and often contain words such as "anticipate," "believe," "expect," "plan," "strategy," "estimate," "project," and similar terms. These forward-looking statements do not constitute guarantees of future performance and are subject to a variety of risks and uncertainties that may cause actual results to differ materially from those expressed in the forward-looking statements. These include, among others: difficulty maintaining relationships with employees, customers, suppliers, business partners or governmental entities, potential work stoppages, difficulties leveraging aerospace market opportunities, changes in aerospace market demand for our products and services, rapid technological and market change, the ability to protect intellectual property rights, introduction or development of new products or transfer of work, higher risks in international operations and markets, the impact of intense competition; and other risks and uncertainties described in documents filed with or furnished to the Securities and Exchange Commission ("SEC") by the Company, including, among others, those in the Management's Discussion and Analysis of Financial Condition and Results of Operations and Risk Factors sections of the Company's filings. The Company assumes no obligation to update our forward-looking statements.