BRISTOL, Conn.--(BUSINESS WIRE)--Barnes Group Inc. (NYSE: B), an international industrial and aerospace manufacturer and service provider, today announced that it has acquired privately held Priamus System Technologies, a technology leader in the development of advanced process control systems for the plastic injection molding industry.
Priamus services many of the world’s highest quality plastic injection molders in the medical, automotive, consumer goods, electronics, and packaging markets. The business, which has approximately 40 employees, is headquartered in Schaffhausen, Switzerland and has direct sales and service offices in the United States and Germany.
“We are excited about adding Priamus and its exceptional design and applications engineering capabilities to Barnes Group,” said Scott A. Mayo, Senior Vice President of Barnes Group Inc. and President, Barnes Industrial. “We believe the combination of Priamus’ innovative suite of sensor and process control systems and Barnes Group’s portfolio of plastic injection molding solutions will enable us to create something truly unique and expand what’s possible in injection molding. As the plastics industry becomes more complex and global, Priamus’ engineered products and Barnes Group’s global scale will generate exciting growth opportunities for all businesses in Barnes Group’s expanding plastics portfolio.” Barnes Group provides complete tool-based solutions for all types of injection molding applications with a focus on delivering high quality products, advanced technologies, and value-added services. Priamus will operate as a business within Barnes Group’s Industrial segment, which includes leading technology-based businesses Synventive Molding Solutions, Männer, and recently acquired Thermoplay.
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, at more than 60 locations worldwide, 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: the effects of disruption from the transaction, making it more difficult to maintain relationships with employees, customers, distributors, suppliers, business partners or governmental entities; difficulties leveraging market opportunities; changes in market demand for our products and services; rapid technological and market change; the ability to protect intellectual property rights; the success of the companies in implementing their integration strategies; the actual benefits realized from this transaction; disruptions to our business and financial conditions as a result of this acquisition or other investments or acquisitions; the ability to recruit and retain key personnel; 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 risks and uncertainties described in our periodic filings with the SEC include, among others, uncertainties relating to the integration of acquired businesses; the continuing impact of prior acquisitions and divestitures and any other future strategic actions, including acquisitions, and our ability to achieve the financial and operational targets set in connection with any such actions; foreign currency exposure; and numerous other matters of global, regional or national scale, including those of a political, economic, business, competitive, environmental, regulatory and public health nature. The Company assumes no obligation to update our forward-looking statements.