Barnes Group Inc. paid $9 million for Priamus System Technologies AG when the deal closed Oct. 1, President and CEO Patrick Dempsey said in a third-quarter conference call.
Barnes has built a plastics-business platform, purchasing Synventive Molding Solutions Group in 2012, Otto Männer GmbH in 2013 and Thermoplay SpA earlier this year.
Priamus, based in Schaffhausen, Switzerland, makes in-mold control systems that monitor functions like mold cavity pressure and temperature, and hot runner controls.
Dempsey said Barnes officials are excited about becoming a global player in a fundamental processing area of controlling the plastic melt in injection molding.
“There is a great opportunity to expand this business by expanding globally,” he said, calling the plastics businesses a “powerful combination.”
Barnes, based in Bristol, Conn., is traded on the New York Stock Exchange. The company does precision machining and fabrication for markets including aerospace, industrial and automotive.
Barnes reported lower sales, both for the third quarter and first nine months. Dempsey cited “overall slowing macroeconomic markets.”
In the Oct. 23 conference call, Barnes reported sales of $906.9 million through the first nine months of 2015, down 4.7 percent for the first nine months last year.