5/17/2010
HEADLINES
Stock Report: BARNES GROUP
Revenue at Barnes Logistics and Manufacturing Services, including fasteners at Barnes Distribution, slipped 22% to $539.1 million during 2009, hurt by continued weakness in transportation and industrial markets. Segment profit fell 44.5% to $44 million.
In early 2009 Barnes Distribution/North America expanded its stainless steel fasteners product line by 50%, stocking 1,200 new fasteners, including hex head cap screws, socket head cap screws, socket set screws, lock washers and machine screws.
Barnes Distribution is an MRO distributor with more than 1,000 employees providing general-line MRO supplies in 32 countries.
Barnes Distribution is headquartered at 1301 E. Ninth St. Suite 700, Cleveland, OH 44114. Tel: 216 416-7200 E-mail: info@barnesdistribution.com Web: barnesdistribution.com
Patrick Dempsey is president of Logistics and Manufacturing Services. Dempsey succeeded Idelle Wolf, who retired in 2007. Dempsey joined Barnes Group in 2000 as president of Barnes Aerospace’s Windsor Airmotive Division. In 2004 he was appointed president of Barnes Aerospace and a vice president of parent company Barnes Group.
Barnes Group operates in two segments: Logistics and Manufacturing Services, including Barnes Distribution, which handles 100,000 MRO products, including fasteners, for industrial, heavy equipment and transportation markets; and Precision Components, a global supplier of engineered components for industrial, transportation and aerospace markets.
Barnes Group, which marked its 150th year in 2007, manufactures and distributes precision metal parts and industrial supplies from 68 locations worldwide.
Corporate Office: 123 Main St., Bristol, CT 06011-0489. Tel: 860 583-7070 Fax 860 589-3507
Web: barnesgroupinc.com
CEO: Gregory Milzcik, 49
Key Fastener Executive: Patrick Dempsey, 45, president of Logistics and Manufacturing Services; David Nagle, president of Barnes Distribution/North America
Employees: 4,800
©2010 GlobalFastenerNews.com
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