Jason Sandefur

Following “dramatic changes” in 2004, Barnes Distri-bution, including fasteners, continued growing in 2005 with the acquisitions of auto parts supplier Service Plus Distri-butors for $13.7 million in September, 2005; and UK-based MRO distributor Toolcom for $13.6 million in August, 2005. Both businesses will be integrated into Barnes Distribution.
During 2005 Barnes Distribution sales grew 6.8% to a record $453.8 million, including organic sales growth of $18.8 million. Distribution operating profit jumped 91.5% to $26.4 million from higher sales and improved gross margins driven by cost savings and operational improvements. Capital expenditures dropped to $6.4 million from $13 million during 2004.
Idelle Wolf became president of Barnes Distribution in January 2006, replacing Keith Drewett.
Barnes Distribution operates 16 distribution and support centers in North America, six in Europe, two in Latin America and three in Asia.
Barnes acquired MRO distributor Kar Products in February 2003 for about $78 million. Barnes also bought certain assets of a related company, A&H Bolt & Nut Co.
Barnes Group operates three separate businesses: Barnes Distribution handles 50,000 MRO products, including fasteners, for industrial, heavy equipment and transportation markets; Associated Spring manufactures and distributes custom springs and other close-tolerance engineered metal components; and Barnes Aerospace produces precision machined assemblies and refurbishes jet engine components. Sales to GE accounted for approximately 65% of aerospace sales in 2005.
Overall Barnes Group sales grew 11% to a record $1.1 billion, surpassing the billion-dollar mark for the first time in the company”s 148-year history. Net income soared 75% to $60.52 million. General Electric accounted for 14% of the company”s total sales in 2005.
Barnes is an international manufacturer and distributor of precision metal parts and industrial supplies. The company operates over 60 locations worldwide, with the majority of its manufacturing facilities in the U.S. and Canada.
Headquarters: 123 Main St., Bristol, CT 06011-0489. Tel: 860 583-7070 Fax 860 589-3507
Web: barnesgroupinc.com
NYSE Symbol: B
CEO: Edmund Carpenter, 64
Investor Relations: William Denninger
Key Fastener Executives: Gregory Milzcik, 46, president, Associated Spring; Idelle Wolf, 53, president, Barnes Distribution
Founded: 1857
Employees: 6,205 \ �2006 FastenerNews.com