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| ABOUT >> HISTORY | |||||||||||||
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In 1893, Wallace Barnes left his son, Carlyle Barnes, to steer the Company toward growth at the turn of the 20th century. In 1913, Fuller Barnes, Carlyle's son, took over as general manager of the Company, which continued to grow through acquisitions. After establishing a presence in Canada in 1921, Barnes-Gibson-Raymond, Inc. was founded in Detroit, Michigan, in 1922, and a year later was renamed Associated Spring Corporation. The Company acquired Cook Spring Company of Michigan in 1929 and F.N. Manross in 1937, and the Raymond Merchandise Division was started in Corry, Pennsylvania, in 1944. A Public Company: 1946 - 1962 In 1946, Associated Spring Corporation stock was offered for sale over the counter to the public for the first time. Carlyle F. (Hap) Barnes, great grandson of Wallace Barnes, was named general manager of the Company in 1951. Associated Spring acquired Seaboard Coil Spring Corporation of Los Angeles, California, in 1952, helping to push sales past $50 million for the first time in 1953. In 1954, the U.S.S. Nautilus, the world's first nuclear-powered submarine, was launched with more than 140 different types of Associated Spring Corporation springs at critical points within the hull. In 1962, the Company acquired Westmetal Products Company of Los Angeles, California, and Associated Spring Corporation springs were used in the space suit of astronaut John Glenn in the first orbital flight of the earth. A New Name, Two New Business Segments: 1963 - 1998 In 1963, Associated Spring stock was listed on the New York Stock Exchange, and in 1964, Associated Spring purchased Bowman Products of Cleveland, Ohio, a national distributor of repair and replacement parts. Hap Barnes was elected Chairman of the Board, and Wally Barnes, great grandson of Wallace Barnes, became President and Chief Operating Officer. Apollo 11, with Associated Spring Corporation springs on board, landed on the moon in 1969. In 1976, the Company changed its name from Associated Spring Corporation to Barnes Group Inc. In 1977, Wally Barnes became Chairman of the Board and Chief Executive Officer. Annual sales exceed $500 million in 1988. The Company continued to make a number of acquisitions during this era, including spring and auto parts companies; Tevema in the Netherlands in 1966, Indap SA of Sao Paulo, Brazil, in 1974, and Globe Industries in 1978. The Company formed the Barnes Aerospace segment after the purchase of Central Metal Parts in 1981 and Windsor Manufacturing in 1982, both of Connecticut. In 1986, Jet Die and Engineering of Michigan was acquired, and Flameco Engineering of Utah became a part of Barnes Aerospace in 1986. In 1990, Barnes Aerospace began construction of its jet-engine overhaul facility in Singapore. Building Lasting Value: 1998 - Present In 1998, Edmund M. Carpenter was named President and Chief Executive Officer of Barnes Group Inc. After a decade of inactivity, acquisitions once again became a key part of the Company's overall growth strategy. Barnes Group Inc. acquired the nitrogen gas spring business from Teledyne Fluid Systems in 1999. In 2000, the Company acquired Curtis Industries and combined it with Bowman Distribution to form Barnes Distribution. That same year, Barnes Group acquired Kratz-Wilde and Apex Manufacturing of Ohio to strengthen Barnes Aerospace's jet engine technology. In 2001, Barnes Group acquired Euro Stock Springs of England and Forward Industries of Michigan. Barnes Group acquired two companies in 2002 to expand Associated Springs' product offerings and geographic scope - Seeger-Orbis of Germany, a manufacturer of retaining rings, and Spectrum Plastics, a fully integrated, precision injection molder of plastic products. Barnes Group acquired Kar Products in 2003, adding another powerful MRO brand to Barnes Distribution, and the Company completed its first public offering of common stock in nearly 60 years. In 2004, DE-STA-CO Manufacturing was acquired and became a part of Associated Spring, and in 2005, Toolcom Supplies Ltd. and Service Plus were acquired and became part of Barnes Distribution. Heinz Hanggi of Switzerland was acquired in 2006 and became part of Associated Spring, and KENT, a distributor of MRO supplies in Europe, was acquired the same year to increase Barnes Distribution's presence in Europe. Nitropush was acquired in 2006. In September 2006, Gregory F. Milzcik was named President and Chief Executive Officer, Barnes Group Inc. In 2007, the Associated Spring business segment changes its name to Barnes Industrial, and the Di-Dro product line was acquired. Today, Barnes Group Inc. continues its tradition of strategic acquisition, technical innovation and global presence. |
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