Financial News
Barnes Industrial Receives Bosch Supplier Award
Barnes Industrial, a business segment of Barnes Group Inc. (NYSE: B), announced that its operating unit Heinz Hänggi has been presented with the Bosch Group’s Supplier Award. The Bosch Supplier Award honors Heinz Hänggi’s outstanding work in the manufacturing of precision components for Bosch.
“To receive an award from a valued business partner like Bosch is a credit to Heinz Hänngi’s commitment to continuous improvement in providing the highest quality precision manufactured components to our customers,” said Jerry W. Burris, President, Barnes Industrial. “It is the employees of Heinz Hänggi who earned this recognition from Bosch. Heinz Hänggi is honored to be recognized with this prestigious award.
“Our Heinz Hänggi operating unit is a premier global provider of precision components for critical applications. Its lean manufacturing practices set the standard which Barnes Industrial manufacturing units are focused on achieving,” continued Burris.
This is now the eleventh time Bosch has conferred its supplier award since 1987. This biannual award is open to suppliers around the world. This year, the award was given in five categories to a total of 47 companies from 14 countries. This is the seventh time that Heinz Hänggi has won the award. The award-winners were honored at a ceremony in Stuttgart’s Staatsgalerie museum in early July, 2007.
In 2006, the Bosch Group’s total purchasing volume was approximately 23 billion euros. The share of purchases made outside of Germany was more than 50 percent, with the major sourcing markets being the United States, Eastern Europe, China and Japan. Bosch purchased manufacturing materials such as electronic components, mechanical and electromechanical components, services, merchandise and capital goods.
Barnes Industrial is an industrial components manufacturer of a broad range of high-quality, highly engineered products for a diverse customer base. The Barnes Industrial business segment consists of six strategic business units (SBUs): Precision Forming; Retention Rings; Nitrogen Gas Products; Precision Valves; Engineered Springs; and Plastics.
Celebrating its 150th anniversary in 2007, Barnes Group Inc. (NYSE:B) is an international aerospace and industrial components manufacturer and full-service distribution company focused on achieving consistent, sustainable and predictable results. Founded in 1857, Barnes Group consists of three businesses: Barnes Aerospace, Barnes Distribution and Barnes Industrial. Over 6,600 dedicated employees at more than 65 locations worldwide contribute to Barnes Group Inc.’s success. For more information, visit www.barnesgroupinc.com.
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