TransTechnology Selling Seeger-Orbis to Barnes

John Wolz

TransTechnology Corporation announced it will sell its German retaining ring manufacturing assets to Barnes Group Inc. for $20 million cash.
The acquisition of Seeger-Orbis GmbH & Co. is expected to close by the end of March 2002.
The sale is part of TransTechnology�s restructuring to reduce debt. TransTechnology is exiting specialty fastener manufacturing and other industrial products to focus on defense and aerospace products.
Seeger-Orbis will expand the product offering and geographic scope of Barnes� Associated Spring business unit.
Barnes CEO Edmund Carpenter said Seeger-Orbis will “add approximately $30 million in annual sales to Associated Spring�s operation, and further reinforce our position as a leader in the worldwide engineering and manufacturing of precision springs and stampings.” Seeger-Orbis invented the retaining ring. Web: TransTechnology.com and barnesgroupinc.om �2002 FastenerNews.com