Barnes Group Inc. Announces Contract Award From Northrop Grumman for B-2 Spirit Stealth Bomber Exhaust System Assemblies
19 Abril 2021 - 01:00PM
Business Wire
- Leverages Barnes Aerospace’s Precision Exotic Metal Forming
and Complex Assembly Capabilities
- Multiple Year Award in Excess of $30 Million in
Revenue
- Builds on Barnes Aerospace’s Long-Term Growth Strategy and
Market Diversification
Barnes Aerospace, a business unit of Barnes Group Inc. (NYSE:
B), today announced that it was awarded a multi-year contract by
Northrop Grumman to produce major metallic subassembly for the B-2
Spirit Stealth Bomber Tailpipe Mid/Aft Assembly Full Fleet
Replacement Program. The assemblies will be manufactured in Barnes
Aerospace’s Ogden, Utah facility which has deep expertise in
precision exotic metal forming and complex assemblies. Barnes
Aerospace has a long-term relationship with Northrop Grumman on
difficult to manufacture, complex products.
“Barnes Aerospace is committed to partnering with our customers
through our concurrent engineering capabilities to develop
manufacturing solutions that deliver superior value. We look
forward to continuing our support of the B-2 Spirit Stealth Bomber
program with Northrop Grumman,” said Mike Beck, Senior Vice
President, Barnes Group Inc. and President, Barnes Aerospace.
About Barnes Aerospace
Barnes Aerospace is a global manufacturer of complex fabricated
and precision-machined components and assemblies for turbine
engines, nacelles and structures for both commercial and
defense-related aircraft. In addition, Barnes Aerospace provides
aircraft engine component MRO services for many of the world's
major turbine engine manufacturers, commercial airlines, and the
defense market. It also manufactures and delivers aftermarket spare
parts.
About Barnes Group
Barnes Group Inc. (NYSE: B) is a global provider of highly
engineered products, differentiated industrial technologies, and
innovative solutions, serving a wide range of end markets and
customers. Its specialized products and services are used in
far-reaching applications including aerospace, transportation,
manufacturing, automation, healthcare, and packaging. The skilled
and dedicated employees of Barnes Group around the globe are
committed to the highest performance standards and achieving
consistent, sustainable profitable growth. Barnes Group is
committed to corporate accountability and furthering environmental,
social and governance principles as evidenced by our listing as one
of America’s Most Responsible Companies by Newsweek. For more
information, visit www.BGInc.com.
Forward-Looking Statements
This press release contains forward-looking statements as
defined in the Private Securities Litigation Reform Act of 1995.
Forward-looking statements address our expected future operating
and financial performance and financial condition, and often
contain words such as "anticipate," "believe," "expect," "plan,"
"estimate," "project," “continue,” “will,” “should,” 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 risks include uncertainties relating to conditions in
financial markets; future financial performance of the industries
or customers that we serve; risks associated with international
sales and operations; the ability to maintain adequate liquidity
and financing sources; and general economic conditions affecting
the industries we serve. A detailed discussion of these and other
factors that may affect our future results is contained in Barnes
Group Inc.’s filings with the U.S. Securities and Exchange
Commission, including its most recent reports on Form 10-K, 10-Q,
and 8-K. The Company assumes no obligation to update our
forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20210419005508/en/
Barnes Group Inc. William Pitts Director, Investor Relations
860.583.7070
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