BRISTOL, Conn. (AP) - Barnes Aerospace, a business segment of Barnes Group Inc., said Monday that it has entered into a new aftermarket revenue sharing program agreement with General Electric Co.
The revenue sharing programs provide the exclusive right to supply designated aftermarket parts to GE for the life of a related engine program.
The new agreement specifically relates to spare parts for the CFM56 and CF6 engine families, Barnes Aerospace said.
The CFM56 engine powers short-, medium- and long-range aircraft. Twelve different aircraft models are powered by the CFM56 including the Boeing 737 and the Airbus A320 family of aircraft.
GE's CF6 family of turbofan engines, which power wide-body aircraft produced by Boeing and Airbus, is currently certified on multiple wide-body aircraft models.
Shares of Barnes Group, a metals manufacturer and industrial supplies distributor, fell 21 cents to close at $22.92 on the New York Stock Exchange.
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