Paper
Jason Bjornstad
10-27-01
Fin 380
Barnes Group Inc.
Barnes Group Inc. is a diversified international manufacturer of precision metal parts and distributor of industrial supplies. Founded in 1857 and headquartered in Bristol, Connecticut, Barnes Group consists of three businesses: Associated Spring, a manufacturer of mechanical and nitrogen gas springs; Barnes Aerospace, a manufacturer and repairer of aircraft engine and air frame components and assemblies; and Barnes Distribution, a distributor of maintenance, repair and operating supplies. Barnes Group employ s nearly 5,700 people at more than 50 locations worldwide. Barnes Group has a long-standing reputation as an outgoing, generous organization. In fact, the company setup the Barnes Foundation, which helps support more than 187 schools and cultural centers in almost every state. Also, they contribute to the United Way and to the Harry C. Barnes Memorial Nature Center.
Barnes Group seems to be a successful company. In the year 2000, they had net sales of 740 million, up 19 percent from1999, and their net income was up 25 percent to 35.7 million in 2000. Edmund M. Carpenter, Barnes Group Inc. s president and chief executive officer said We executed on all of our key objectives in 2000, which were centered on growing our business organically and through acquisitions, restoring profitability, and generating value for our shareholders. Carpenter went on to say that the company s plan for the rest of 2001 and beyond would duplicate the success it had in 2000.