Barnes Group aligns into two business segments

Source: Manufacturing Digital

Date :10/27/2008 6:45:45 AM

Diversified manufacturer Barnes Group Inc has announced a realignment of its organizational structure into two new global business segments.

Effective immediately, the group is realigning its three group reporting structure into two by aligning its strategic business units with a focus on core functional and delivery capabilities. It had previously operated in three segments - aerospace, distribution and industrial.

The company has stated that the Precision Components segment will be a supplier of parts for customers in the aerospace, transportation, energy, electronics and other industries.

The second group will cover Logistics and Manufacturing Services but include manufacturing and delivery of aftermarket spare parts for aerospace customers.

"By aligning the business segments for growth and efficiency, we are able to leverage administrative synergies and eliminate organizational redundancies," said Gregory Milzcik, President and Chief Executive Officer.

"Our new global business segments are structured for greater market focus, efficiency, and execution to respond to our growing international customer base," Milzcik added.