Barnes Group Inc. Completes the Sale of Its Seeger-Orbis Business to the Kajo Neukirchen Group
Barnes Group, Inc. (B)
Last barnes group, inc. earnings: 4/24 06:30 am
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US:NYSE Investor Relations:
ir.barnesgroupinc.com/investor-relations/overview/default.aspx
Company Research
Source: Business Wire
BRISTOL, Conn.--(BUSINESS WIRE)--Barnes Group Inc. (NYSE: B), a global provider of highly engineered products, differentiated industrial technologies, and innovative solutions, today announced it has completed the divestiture of its Seeger-Orbis (“Seeger”) business to the Kajo Neukirchen Group.Seeger, formerly part of Barnes Group’s Engineered Components strategic business unit within the Industrial Segment, develops and produces a comprehensive range of retaining rings, fasteners, snap rings and shims and generates annual revenues of approximately $60 million.Barnes Group anticipates an approximate $0.10 net impact to 2020 earnings per share from Seeger’s forgone operating profit contribution, partially offset by interest savings from reduced debt with redeployment of the sale proceeds. Barnes Group’s 2020 financial outlook will be provided on the Company’s fourth quarter 2019 earnings call scheduled for February 21, 2020.About Barnes GroupBarnes Group Inc. (NYSE: B) is a global
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