Barnes Group Inc. Acquires Priamus System Technologies
October 01 2015 - 01:03PM
Business Wire
- Priamus is a Supplier of Advanced
Mold Cavity Sensors and Process Control Systems for the Plastic
Injection Molding Industry
- Acquisition Furthers Barnes Group’s
Strategy to Expand Its Intellectual Property Based Offerings in the
Plastic Injection Molding Equipment Market
Barnes Group Inc. (NYSE: B), an international industrial and
aerospace manufacturer and service provider, today announced that
it has acquired privately held Priamus System Technologies, a
technology leader in the development of advanced process control
systems for the plastic injection molding industry.
Priamus services many of the world’s highest quality plastic
injection molders in the medical, automotive, consumer goods,
electronics, and packaging markets. The business, which has
approximately 40 employees, is headquartered in Schaffhausen,
Switzerland and has direct sales and service offices in the United
States and Germany.
“We are excited about adding Priamus and its exceptional design
and applications engineering capabilities to Barnes Group,” said
Scott A. Mayo, Senior Vice President of Barnes Group Inc. and
President, Barnes Industrial. “We believe the combination of
Priamus’ innovative suite of sensor and process control systems and
Barnes Group’s portfolio of plastic injection molding solutions
will enable us to create something truly unique and expand what’s
possible in injection molding. As the plastics industry becomes
more complex and global, Priamus’ engineered products and Barnes
Group’s global scale will generate exciting growth opportunities
for all businesses in Barnes Group’s expanding plastics portfolio.”
Barnes Group provides complete tool-based solutions for all types
of injection molding applications with a focus on delivering high
quality products, advanced technologies, and value-added services.
Priamus will operate as a business within Barnes Group’s Industrial
segment, which includes leading technology-based businesses
Synventive Molding Solutions, Männer, and recently acquired
Thermoplay.
About Barnes Group
Founded in 1857, Barnes Group Inc. (NYSE: B) is an international
industrial and aerospace manufacturer and service provider, serving
a wide range of end markets and customers. The highly engineered
products, differentiated industrial technologies, and innovative
solutions delivered by Barnes Group are used in far-reaching
applications that provide transportation, manufacturing, healthcare
products, and technology to the world. Barnes Group’s approximately
4,700 skilled and dedicated employees, at more than 60 locations
worldwide, are committed to achieving consistent and sustainable
profitable growth. 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 often address our expected future
operating and financial performance and financial condition, and
often contain words such as "anticipate," "believe," "expect,"
"plan," “strategy," "estimate," "project," 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 include, among
others: the effects of disruption from the transaction, making it
more difficult to maintain relationships with employees, customers,
distributors, suppliers, business partners or governmental
entities; difficulties leveraging market opportunities; changes in
market demand for our products and services; rapid technological
and market change; the ability to protect intellectual property
rights; the success of the companies in implementing their
integration strategies; the actual benefits realized from this
transaction; disruptions to our business and financial conditions
as a result of this acquisition or other investments or
acquisitions; the ability to recruit and retain key personnel;
introduction or development of new products or transfer of work;
higher risks in international operations and markets; the impact of
intense competition; and other risks and uncertainties described in
documents filed with or furnished to the Securities and Exchange
Commission (SEC) by the Company, including, among others, those in
the Management's Discussion and Analysis of Financial Condition and
Results of Operations and Risk Factors sections of the Company's
filings. The risks and uncertainties described in our periodic
filings with the SEC include, among others, uncertainties relating
to the integration of acquired businesses; the continuing impact of
prior acquisitions and divestitures and any other future strategic
actions, including acquisitions, and our ability to achieve the
financial and operational targets set in connection with any such
actions; foreign currency exposure; and numerous other matters of
global, regional or national scale, including those of a political,
economic, business, competitive, environmental, regulatory and
public health nature. The Company assumes no obligation to update
our forward-looking statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20151001006569/en/
Barnes Group Inc.William PittsDirector, Investor
Relations860-583-7070
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