Barnes Aerospace, a subsidiary of Barnes Group Inc. (B), announced on Tuesday the extension of a long-term agreement with MTU Aero Engines AG. The deal, valued at $33 million, pertains to the supply of a range of precision-fabricated components.
This contract encompasses the manufacture of crucial aero-engine components at Barnes Aerospace's Singapore OEM facility, leveraging high-precision technologies for large-scale production. These components are essential for Pratt and Whitney's A320neo/A220 and Gulfstream G500/G600 engines.
The company highlighted that this contract extension aligns with its strategic growth objectives, emphasizing the strengthening of customer relationships and the enhancement of its capabilities through unique service offerings.
