Skip to main content
Sister Publication Links
  • Sustainable Plastics
  • Rubber News
Subscribe
  • Login
  • Register
  • Subscribe
  • News
    • Processor News
    • Suppliers
    • More News
    • Digital Edition
    • End Markets
    • Special Reports
    • Newsletters
    • Resin pricing news
    • Videos
    • Injection Molding
    • Blow Molding
    • Film & Sheet
    • Pipe/Profile/Tubing
    • Rotomolding
    • Thermoforming
    • Recycling
    • Machinery
    • Materials
    • Molds/Tooling
    • Product news
    • Design
    • Mergers & Acquisitions
    • Sustainability
    • Public Policy
    • Material Insights Videos
    • Numbers that Matter
    • Automotive
    • Packaging
    • Medical
    • Consumer Products
    • Construction
    • CEO Issue
    • Diversity
    • Best Places to Work
      • 2022 winners
    • Processor of the Year
    • Rising Stars
    • Women Breaking the Mold
  • Opinion
    • The Plastics Blog
    • Kickstart
    • One Good Resin
    • BRICS and Plastics
    • All Things Data
    • Viewpoint
    • From Pillar to Post
    • Perspective
    • Mailbag
    • Fake Plastic Trees
  • Shop Floor
    • Blending
    • Compounding
    • Drying
    • Injection Molding
    • Purging
    • Robotics
    • Size Reduction
    • Structural Foam
    • Tooling
    • Training
  • Events
    • K Show Livestream
    • Plastics News Events
    • Industry Events
    • Injection Molding & Design Expo
    • Livestreams/Webinars
    • Editorial Livestreams
    • Ask the Expert
    • Plastics News Events Library
    • Processor of the Year submissions
    • Plastics News Executive Forum
    • Injection Molding & Design Expo
    • Plastics News Caps & Closures
    • Women Breaking the Mold Networking Forum
    • Plastics in Automotive
    • Reuters Responsible Business Europe 2022
    • Reifenhäuser Technologies Livestreams
    • Polymer Points Live
    • Numbers that Matter Live
    • Plastics in Politics Live
    • Sustainable Plastics Live
    • Plastics Caps & Closures Library
    • Plastics in Healthcare Library
    • Women Breaking the Mold Networking Forum Library
  • Resin Prices
    • All Resins
    • Commodity TPs
    • High Temp TPs
    • ETPs
    • Thermosets
    • Recycled Plastics
    • Historic Commodity Thermoplastics
    • Historic High Temp Thermoplastics
    • Historic Engineering Thermoplastics
    • Historic Thermosets
    • Historic Recycled Plastics
  • Rankings & Data
    • Injection Molders
    • Blow Molders
    • Film Sheet
    • Thermoformers
    • Pipe Profile Tubing
    • Rotomolders
    • Mold/Toolmakers
    • LSR Processors
    • Recyclers
    • Compounders - List
    • Association - List
    • Plastic Lumber - List
    • All
  • Directory
  • Custom
    • Sponsored Content
    • LS Mtron Sponsored Content
    • Conair Sponsored Content
    • KraussMaffei Sponsored Content
    • ENGEL Sponsored Content
    • White Papers
    • Classifieds
    • Place an Ad
    • Sign up for Early Classified
MENU
Breadcrumb
  1. Home
  2. News
October 26, 2018 02:00 AM

Barnes to build automation group

Bill Bregar
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print
    Gimatic srl
    Barnes Group Inc. has a deal to buy Gimatic srl, an Italian maker of end-of-arm tooling automation and sensors, as part of its plan to create an automation group.

    Barnes Group Inc., the industrial conglomerate that built its Molding Solutions Group around hot runners, molds and controllers, wants to do the same for automation.

    Company officials announced the plan in a third-quarter conference call on Oct. 26. They also discussed tariffs, and how a moderation in the global automotive sector is impacting its Synventive hot-runner business.

    Barnes on Sept. 9 signed a deal to buy Gimatic srl, an Italian maker of end-of-arm tooling automation and sensors for automotive, packaging, health care, food and beverage and other markets. President and CEO Patrick Dempsey told financial analysts that Barnes will make more automation-related acquisitions.

    "It's not a one-shot deal and it's very much based on the thorough processes on the playbook that we executed with Molding Solutions," Dempsey said. He said Barnes officials have "identified a number of key technologies that will complement Gimatic and associated potential acquisition targets."

    Barnes took about five years to build Molding Solutions, starting with the 2012 acquisition of Synventive Molding Solutions. Forming the automation group will take about the same amount of time, Dempsey said. Gimatic shares some of the same customer base with Molding Solutions, he added.

    The Gimatic acquisition is not completed yet, but Dempsey said Barnes and Gimatic teams have been working closely since it was announced. "Our intentions are to hit the ground running the day after the deal is closed," Dempsey said.

    Once the deal is final, Barnes will hold a separate conference call to explain more about the plan to build an automation group.

    Barnes, which is traded on the New York Stock Exchange, reported overall sales of $370 million in the third quarter, a 3.5 percent increase from the first quarter of 2017 sales of $357 million.

    Net profit was $39.1 million, a gain of 10.7 percent from the ​ year-ago first quarter profit figure of $35.3 million.

    "Year-over-year operating profit and margins were up impressively in both our aerospace and our industrial businesses," Dempsey said.

    Molding Solutions accounts for about one-third of sales in the industrial business segment, which generated third-quarter sales of $244.1 million, a 1.6 percent increase in the third quarter from the year-earlier period. Operating profit jumped 10 percent.

    Dempsey said the tariffs are having a "disruptive impact" on new automotive projects.

    "There's a lot of noise in the system," and Synventive is feeling the effects, he said.

    "Synventive came off a record year in 2017 and the primary driver behind that was all three regions — North America, Europe and Asia all peaked at the same time — with the primary driver being North America. And that's relative to model changes," Dempsey said, answering an analyst's question.

    "As we come into 2018 we see the pullback in North America, which is to be expected. … But as we go into 2019, we're looking at that [Synventive] business to continue to be very successful in the context that it's the market leader in the automotive hot runner space."

    Dempsey said Barnes is well-positioned to handle tariffs and other global issues.

    "From a Barnes perspective, there isn't much product we have that's moving from the U.S. to China and vice versa. Our model has primarily been local-for-local. That said, we're not immune to the tariffs because we have supply chains than are moving back and forth," he said.

    Dempsey praised the management team.

    "They have done a wonderful job of mitigating any potential headwinds that we are facing," he said. The company has explored alternative supply channels, pricing and in some cases has appealed the government for exclusions from some tariffs.

    "Some of our products, which we're shipping internally, have been caught in the tariffs web. So we're pursuing exclusion as well," Dempsey said.

    RECOMMENDED FOR YOU
    Hillenbrand cites recycling as 'strategic growth' area with Herbold acquisition
    Letter
    to the
    Editor

    Do you have an opinion about this story? Do you have some thoughts you'd like to share with our readers? Plastics News would love to hear from you. Email your letter to Editor at [email protected]

    Most Popular
    1
    California passes strictest plastics law in US, with EPR and recycling targets
    2
    PS prices jump in June, more increases on horizon
    3
    Hillenbrand makes another deal in plastics machinery
    4
    IRS provides guidance for how excise taxes will impact resin pricing
    5
    Eastman eyes ‘several options' for chemical recycling plant sites
    SIGN UP FOR TO RECEIVE THESE EMAILS AND ENEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Get our newsletters

    Staying current is easy with Plastics News delivered straight to your inbox, free of charge.

    Subscribe today

    Subscribe to Plastics News

    Subscribe now
    Connect with Us
    • LinkedIn
    • Facebook
    • Twitter
    • Instagram

    Plastics News covers the business of the global plastics industry. We report news, gather data and deliver timely information that provides our readers with a competitive advantage.

    Contact Us

    1155 Gratiot Avenue
    Detroit MI 48207-2997

    Customer Service:
    877-320-1723

    Resources
    • About
    • Staff
    • Editorial Calendar
    • Media Kit
    • Data Store
    • Digital Edition
    • Custom Content
    • People
    • Contact
    • Careers
    • Sitemap
    Related Crain Publications
    • Sustainable Plastics
    • Rubber News
    • Urethanes Technology
    • European Rubber Journal
    • Tire Business
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Copyright © 1996-2022. Crain Communications, Inc. All Rights Reserved.
    • News
      • Processor News
        • Injection Molding
        • Blow Molding
        • Film & Sheet
        • Pipe/Profile/Tubing
        • Rotomolding
        • Thermoforming
        • Recycling
      • Suppliers
        • Machinery
        • Materials
        • Molds/Tooling
        • Product news
        • Design
      • More News
        • Mergers & Acquisitions
        • Sustainability
        • Public Policy
        • Material Insights Videos
        • Numbers that Matter
      • Digital Edition
      • End Markets
        • Automotive
        • Packaging
        • Medical
        • Consumer Products
        • Construction
      • Special Reports
        • CEO Issue
        • Diversity
        • Best Places to Work
          • 2022 winners
        • Processor of the Year
        • Rising Stars
        • Women Breaking the Mold
      • Newsletters
      • Resin pricing news
      • Videos
    • Opinion
      • The Plastics Blog
      • Kickstart
      • One Good Resin
      • BRICS and Plastics
      • All Things Data
      • Viewpoint
      • From Pillar to Post
      • Perspective
      • Mailbag
      • Fake Plastic Trees
    • Shop Floor
      • Blending
      • Compounding
      • Drying
      • Injection Molding
      • Purging
      • Robotics
      • Size Reduction
      • Structural Foam
      • Tooling
      • Training
    • Events
      • K Show Livestream
      • Plastics News Events
        • Plastics News Executive Forum
        • Injection Molding & Design Expo
        • Plastics News Caps & Closures
        • Women Breaking the Mold Networking Forum
        • Plastics in Automotive
      • Industry Events
      • Injection Molding & Design Expo
      • Livestreams/Webinars
        • Reuters Responsible Business Europe 2022
        • Reifenhäuser Technologies Livestreams
      • Editorial Livestreams
        • Polymer Points Live
        • Numbers that Matter Live
        • Plastics in Politics Live
        • Sustainable Plastics Live
      • Ask the Expert
      • Plastics News Events Library
        • Plastics Caps & Closures Library
        • Plastics in Healthcare Library
        • Women Breaking the Mold Networking Forum Library
      • Processor of the Year submissions
    • Resin Prices
      • All Resins
      • Commodity TPs
        • Historic Commodity Thermoplastics
      • High Temp TPs
        • Historic High Temp Thermoplastics
      • ETPs
        • Historic Engineering Thermoplastics
      • Thermosets
        • Historic Thermosets
      • Recycled Plastics
        • Historic Recycled Plastics
    • Rankings & Data
      • Injection Molders
      • Blow Molders
      • Film Sheet
      • Thermoformers
      • Pipe Profile Tubing
      • Rotomolders
      • Mold/Toolmakers
      • LSR Processors
      • Recyclers
      • Compounders - List
      • Association - List
      • Plastic Lumber - List
      • All
    • Directory
    • Custom
      • Sponsored Content
      • LS Mtron Sponsored Content
      • Conair Sponsored Content
      • KraussMaffei Sponsored Content
      • ENGEL Sponsored Content
      • White Papers
      • Classifieds
        • Place an Ad
        • Sign up for Early Classified