- Barnes Group ( NYSE: B ) on Friday announced the planned closure of production operations at its engineered components facility in Bristol, Connecticut.
- The decision was made due to ongoing decline in U.S. powertrain automotive production volumes as manufacturers increase electric vehicle output. This is compounded by high inflation and supply chain issues.
- The facility supports B's Associated Spring brand with ~95 employees and focuses on manufacturing, stamping and assembly of legacy transmission springs and washers.
- Work at the facility will either be transferred to other manufacturing locations or permanently discontinued.
- No other engineered components manufacturing facilities are affected by the closure, other than to support transferred operations.
- The closure does not impact B's headquarters, which will continue to be in Bristol.
- The facility closure is expected to be completed by mid-2023.
For further details see:
Barnes Group to shutter engineered components facility in Connecticut