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February 5, 2020

Barnes Group completes divestiture of German manufacturer

PHOTO | Flickr/Craig Howell Barnes Group valve springs.
By Joe Cooper

Bristol aerospace and industrial manufacturer Barnes Group Inc. has completed its sale of a German manufacturing business it’s owned for almost two decades.

Barnes on Wednesday said it completed the divestiture of Seeger-Orbis to the German-based Kajo Neukirchen Group for an undisclosed sum. The deal was first announced Dec. 20.

Seeger was formerly part of the Bristol manufacturer’s engineered components business unit within the industrial segment developing and producing retaining rings, fasteners, snap rings and shims.

The unit, acquired by Barnes in 2002 for $20 million, generates annual revenues of about $60 million, officials said.

Barnes said its new 2020 financial outlook will be aired during the company’s fourth-quarter earnings release on Feb. 21.

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