Barnes Aerospace Announces Long-Term Agreement with MTU Aero Engines AG Valued at $33 Million

Barnes Aerospace Announces Long-Term Agreement with MTU Aero Engines AG Valued at $33 Million

FOR IMMEDIATE RELEASE

July 30, 2024 — Barnes Aerospace is pleased to announce a long-term agreement extension with MTU Aero Engines AG, through which it will provide a package of precision fabricated components valued at $33 million. Leveraging its existing manufacturing capabilities, Barnes Aerospace–Singapore OEM will produce mission-critical aero-engine components to be used in Pratt and Whitney’s A320neo / A220 and Gulfstream G500/ G600 engines. These applications require high-precision technologies in high volume.

This agreement aligns with the Company’s growth strategy to scale Barnes Aerospace through deepening customer relationships and providing diverse capabilities with differentiated service offerings.

“With a focus on delivering operational and commercial excellence, Barnes Aerospace has once again been selected as a key supplier, ” said Ian Reason, Senior Vice President, Barnes and President, Barnes Aerospace. “The confidence of MTU Aero Engines to extend this contract supporting important growth programs is a testament to our excellent, long-standing relationship and the value placed on such performance.”

For decades, Barnes Aerospace–Singapore has been an industry-leading Original Equipment Manufacturer (OEM) specializing in precision stamped assemblies and tight tolerance machining. The business services a robust global customer base throughout the aerospace industry.

About Barnes Aerospace
Barnes Aerospace, a business of Barnes, manufactures and maintains highly engineered parts for the aerospace and related industries globally. With elevated experience, Barnes Aerospace has a steadfast commitment to continuous improvement and the relentless pursuit of next. Barnes Aerospace offers strict compliance with customer, regulatory, and third-party standards (e.g., ISO, AS, NADCAP) for the Commercial Aerospace, Defense/Military, Energy, and Space industries where quality is crucial.

For more information, please visit www.barnesaero.com.

About Barnes Group
Barnes Group Inc. (NYSE: B) leverages world-class manufacturing capabilities and market-leading engineering to develop advanced processes, automation solutions, and applied technologies for industries ranging from aerospace and medical to personal care, mobility, and packaging. With a celebrated legacy of pioneering excellence, Barnes delivers exceptional value to customers through advanced manufacturing capabilities and cutting-edge industrial technologies. Barnes Aerospace specializes in the production and servicing of intricate fabricated and precision-machined components for both commercial and military turbine engines, nacelles, and airframes. Barnes Industrial excels in advancing the processing, control, and sustainability of engineered plastics and delivering innovative, custom-tailored solutions for industrial automation and metal forming applications. Established in 1857 and headquartered in Bristol, Connecticut, USA, the Company has manufacturing and support operations around the globe. For more information, please visit www.onebarnes.com.

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