Business Services Industry
Barnes Group acquires Troy, Mich., manufacturer or reed valves, shock discs.
Knight Ridder/Tribune Business News, September, 2004
The Hartford Courant, Conn. Knight Ridder/Tribune Business News
Sep. 18--Barnes Group Inc. said Friday it completed the acquisition of DE-STA-CO Manufacturing of Troy, Michigan, the world leader in the design and manufacture of reed valves and shock discs. The business had been owned by Dover Corp.
The purchase, for $16.9 million in cash, adds about $28 million in yearly sales to Barnes' Associated Spring unit. DE-STA-CO has a total of five manufacturing locations, three in Michigan, and one each in Thailand and the United Kingdom.
Reed valves are custom-engineered critical components used in compressors which are, in turn, used in air conditioners and refrigerators. Shock discs are spring-like components used in vehicle ride control...
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