Barnes Group Inc. Announces Contract Award From Northrop Grumman for B-2 Spirit Stealth Bomber Exhaust System Assemblies

·3 min read
  • 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210419005508/en/

Contacts

Barnes Group Inc.
William Pitts
Director, Investor Relations
860.583.7070