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Barnes Group Inc. : Receives One of World’s Top Awards for Operational Excellence - The Shingo Silver Medallion

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02/06/2012 | 10:42pm CEST

BRISTOL, Conn.--(BUSINESS WIRE)--Feb. 6, 2012-- Barnes Group Inc. (NYSE: B), a diversified global manufacturer and logistical services company, today announced that its Barnes Aerospace, Ogden, Utah Division, has been awarded the prestigious Shingo Silver Medallion award from The Shingo Prize for Operational Excellence.

The Shingo awards are one of the world's top prizes for operational excellence and are awarded only to those businesses that demonstrate exceptional work in business improvement through the application of universally accepted principles of operational excellence that empower people and transform organizational culture. The Shingo Prize's intent of assessing organizations is to evaluate the degrees to which organizations are aligned with the principles of operational excellence represented in the Shingo model.

"We are extremely honored to receive The Shingo Silver Medallion award in recognition of our Ogden Division's pursuit of continuous quality improvement," said Gregory Milzcik, President and Chief Executive Officer of Barnes Group Inc. "Ogden's success exemplifies Barnes Group's focus on attaining operational excellence across the entire enterprise - leading to exceptional business results and value creation for our customers."

The intent of The Shingo Prize is to identify organizations doing exceptional work in business improvement and to motivate others to learn from those organizations. To achieve The Shingo Prize, organizations compete against the most rigorous standards in the world, rather than against each other. "Shingo award recipients have proven themselves as leaders in operational excellence and have challenged traditional paradigms to face competitive challenges in today's global economy," said Robert Miller, The Shingo Prize Executive Director. "We congratulate Barnes Group for their broad application of lean principles across all of their core business processes. They are clearly building a culture of continuous improvement and empowering every single individual to contribute to the success of the business."

Barnes Aerospace, Ogden Division, will be awarded The Shingo Silver Medallion at the 24th Annual Shingo Prize Awards Gala, during the Annual International Conference on April 30 - May 4, 2012. Robert Miller, Executive Director of The Shingo Prize, will visit the Barnes Group Aerospace Ogden facility for a local ceremony and award presentation on Wednesday, February 22, 2012. For more information about The Shingo Prize, visit http://www.shingoprize.org.

About Barnes Group Inc.

Founded in 1857, Barnes Group Inc. (NYSE:B) is a diversified global manufacturer and logistical services company focused on providing precision component manufacturing and operating service support. Barnes Group's approximately 4,400 dedicated employees, at more than 50 locations worldwide, are committed to achieving consistent and sustainable profitable growth. For more information, visit www.BGInc.com. Barnes Group, the Critical Components People.

Source: Barnes Group Inc.

Barnes Group Inc.
Rikki Crea, 860-973-2132
Manager, Corporate Communications
[email protected]

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Average target price 54,9 $
Spread / Average Target -0,17%
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Patrick J. Dempsey President, Chief Executive Officer & Director
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