Barnes Group Inc. Completes Acquisition of European Specialty Distributor KENT

Business Wire,  July 31, 2006  

Tags: Barnes Group Inc.

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BRISTOL, Conn. -- Barnes Group Inc. (NYSE: B) today announced completion of its acquisition of the KENT Division (KENT) from Premier Farnell, for cash consideration of approximately $41 million. KENT distributes adhesives, sealants, specialty cleaning chemicals, abrasives, tools and other consumables to the European transportation aftermarket and industrial maintenance market.

The KENT business will be integrated into Barnes Group Inc.'s Barnes Distribution business. KENT complements Barnes Distribution's established businesses in the United Kingdom and France, and provides entry into the rest of Europe. KENT has strong market positions supported by direct sales operations in France, Germany, the United Kingdom, Belgium, the Netherlands, Spain, Italy, Denmark and Sweden, and has distributorships in 20 additional countries.

Premier Farnell plc is a global, business-to-business, small order, high service distributor of electronic components and industrial products to the design, maintenance and engineering sectors. Premier Farnell is traded on the London Stock Exchange.

Barnes Distribution is an international full-service distributor of maintenance, repair, operating and production (MROP) supplies. It is one of the largest industrial products distributors in North America and includes operations in more than 30 countries. Barnes Distribution is a market leader in vendor-managed inventory. The vendor-managed inventory model provides outsourced inventory management, monitors inventory levels, tracks usage, replenishes stock and provides inventory reporting with limited customer involvement. Barnes Distribution has widely recognized brands and strong private label products.

Barnes Group Inc. (www.barnesgroupinc.com) is a diversified international manufacturer of precision metal components and assemblies and a distributor of industrial supplies, serving a wide range of markets and customers. Founded in 1857 and headquartered in Bristol, Connecticut, Barnes Group consists of three businesses with 2005 sales of $1.1 billion: Barnes Distribution, an international, full-service distributor of maintenance, repair, operating and production supplies; Associated Spring, one of the world's largest manufacturers of precision mechanical and nitrogen gas products and a global supplier of retaining rings, reed valves, shock discs, and injection-molded plastic components and assemblies; and Barnes Aerospace, a manufacturer and repairer of highly engineered assemblies and components of aircraft engines, airframes, and land-based industrial gas turbines. Over 6,400 dedicated employees at more than 60 locations worldwide contribute to Barnes Group Inc.'s success. The Company has paid cash dividends to stockholders on a continuous basis since 1934.

This release may contain certain forward-looking statements as defined in the Private Securities Litigation and Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed in the forward-looking statements. The risks and uncertainties, which are described in our periodic filings with the Securities and Exchange Commission, include, among others, uncertainties arising from the behavior of financial markets; future financial performance of the industries or customers that we serve; changes in market demand for our products and services; integration of acquired businesses; changes in raw material prices and availability; our dependence upon revenues and earnings from a small number of significant customers; uninsured claims; and numerous other matters of global, regional or national scale, including those of a political, economic, business, competitive, regulatory and public health nature. The Company assumes no obligation to update our forward-looking statements.

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