MSC Industrial to buy Barnes unit for $550 mln

Fri Feb 22, 2013 6:33am EST

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Feb 22 (Reuters) - Industrial products distributor MSC Industrial Direct Co Inc said it would buy the North American distribution business of Barnes Group Inc for $550 million.

The deal, which is expected to close during MSC's third quarter, would generate cost synergies in the range of $15 million to $20 million by fiscal 2015, MSC said in a statement.

MSC distributes industrial supplies such as fasteners, metalworking tools and measuring instruments.

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