Barnes Group Inc - Company Profile
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Business Description
Barnes Group Inc (Barnes) is a provider of engineered products, solutions and industrial technologies. The company serves several end-markets, including aerospace original equipment manufacturing; aerospace aftermarket; medical, personal care and packaging; tool and die; general industrial; auto molding solutions; auto production; and automation.
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R&D Overview
Barnes conducts R&D activities to develop new products, processes and services. It focuses on continuous development of new technologies, applications, and knowledge to enhance existing products and services. The company’s product innovation strategy is driven by its product design teams in collaboration with customers within Industrial’s Automation businesses and Molding Solutions. As of December 2022, the company had 1,100 patents. In FY2022, the company incurred an expenditure of US$15.8 million on its R&D activities, which as a percentage of revenue, stood 2.1%.
Business Segments
Overview
Comprises the aftermarket business and original equipment manufacturing (OEM) business that includes manufacture and delivery of aerospace and maintenance repair and overhaul (MRO) services aftermarket spare. Manufactures and delivers precision and fabricated machined components, and assemblies for nacelles, turbine engines and structures for military and commercial. Provide engine component MRO services for aircraft under Component Repair Programs (CRP) for turbine engine manufacturers, commercial airlines, and the military. Operates fabrication and machining facilities in Connecticut, Michigan, Ohio, Utah, Malaysia, and Singapore.
Performance
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Overview
Offers molding solutions, automation and engineered components, and force & motion control business units. Provides precision components, highly engineered, products and systems for critical applications to wide range of customer base in end-markets such as industrial equipment, transportation, automation, packaging, personal care, electronics, and medical device. Designs customized hot runner systems and precision mold assemblies. Operates manufacturing, distribution and assembly in the US, China, Germany, Italy, Sweden, and Switzerland.
Performance
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Geographical Segments
Performance
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Performance
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Performance
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Performance
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