Barnes Aerospace Announces New Long-Term Supply Agreement With UTC Aerospace

Barnes Group Inc. (NYSE: B) announced after Thursday's market close it has entered into a new long-term supply agreement with UTC Aerospace Systems, a unit of United Technologies Corporation (NYSE: UTX).

As part of the new agreement, Barnes Group will provide nacelle inlet bulkheads for the Airbus A320neo family of aircraft equipped with Pratt & Whitney's engines. Barnes Group will also be the exclusive supplier to supply UTC with the pylon forward secondary structure for the Airbus A350 and the nacelle inlet bulkheads for Embraer E2, and other aircrafts.

"As a result of Barnes Aerospace's commitment to United Technologies Corp.'s high standards for quality, performance and cost-competitiveness, Barnes and UTC Aerospace Systems have strengthened our relationship to ensure our mutual success," said Richard R. Barnhart, Senior Vice President, Barnes Group Inc. and President, Barnes Aerospace. "This long-term supply agreement positions Barnes Aerospace as an important supplier on some of the industry's leading aircraft, while strengthening our business outlook in the years to come."

Shares of Barnes Group showed no trades early Friday morning.