BRISTOL CT. USA MARCH 6 2017
- Gammaflux L.P. is a Leading Supplier of Hot Runner Temperature and Sequential Valve Gate Control System to the Plastics Industry
- Acquisition Furthers Barnes Group as a Leader in the Plastic Injection Molding Technology Market
BRISTOL, Conn.--(BUSINESS WIRE)-- Barnes Group Inc. (NYSE: B), a global industrial and aerospace manufacturer and service provider, today announced it has entered into a definitive agreement to acquire privately held Gammaflux L.P., a leading supplier of hot runner temperature and sequential valve gate control systems to the plastics industry.
Gammaflux is headquartered in Sterling, Virginia and has offices in Illinois and Germany. While primarily serving the plastic injection molding industry, the company also provides temperature control solutions for blow molding, extrusion, and thermoforming applications. Its end markets include packaging, electronics, automotive, medical, and household products.
“We look forward to adding Gammaflux control systems to our Molding Solutions business,” said Scott A. Mayo, Senior Vice President of Barnes Group Inc. and President, Barnes Industrial. “Gammaflux adds technologically advanced, hot runner temperature control systems to our existing product portfolio, which enable molders to achieve precise temperature control of the injection molding process within the mold. This will ensure high quality parts in the most critical molding applications. These capabilities, when combined with Barnes Group’s leading hot runner, complex mold, and sensor technologies, create an unsurpassed offering to our customers in the plastic injection molding industry.”
The transaction is anticipated to close in the second quarter of 2017, subject to the satisfaction of certain closing conditions, and is not material to Barnes Group’s consolidated financial position or liquidity. Following the closing, Gammaflux will operate as a business within Barnes Group’s Industrial Segment, in the Molding Solutions strategic business unit, which includes leading technology-based businesses Synventive, Männer, Thermoplay, Priamus, and recently acquired FOBOHA. With a comprehensive portfolio of technologies and value-added services, Barnes Group delivers premium tool-based solutions to customers across a broad spectrum of injection molding applications.
About Barnes Group
Founded in 1857, Barnes Group Inc. (NYSE: B) is a global 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, and technology to the world. Barnes Group’s skilled and dedicated employees around the globe are committed to achieving consistent and sustainable profitable growth.
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward looking statements often contain words such as "anticipate," "believe," "expect," "plan," "estimate," "project," and similar terms. Specifically, our expectations regarding the benefits resulting from and the completion of the acquisition of the FOBOHA molds business are forward-looking statements. They 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 risks and uncertainties include those described in documents filed with or furnished to the Securities and Exchange Commission ("SEC") by the Company. The Company assumes no obligation to update its forward-looking statements.