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Thu. 28 Oct 2021, 5:18pm ETBenzinga
In: News, Penny Stocks, Contracts
  • Barnes Group Inc (NYSE:B) business unit Barnes Aerospace has extended a long-term agreement with ITP Aero, a Rolls-Royce Holding (OTC:RYCEY) company, to manufacture components and assemblies for the Trent XWB engine program. 
  • The arrangement's financial terms, which extend the duration of the previous agreement through 2025, were not disclosed.
  • Barnes Aerospace will continue to leverage its technology in the advanced metal forming, fabrication, and assembly of complex components.
  • Barnes Aerospace provides fabricated and precision-machined components and assemblies for OEMs of turbine engines, nacelles, airframes, industrial gas turbines, and the military. 
  • Price Action: B shares closed higher by 0.74% at $41.04 on Thursday.