JOHNSON CITY, Tenn.,
Jan. 15, 2015 /PRNewswire/ -- NN,
Inc., (Nasdaq: NNBR) a diversified industrial company,
announced today that the Metal Bearing Components Group has
reorganized its portfolio into two distinct business units – Global
Rollers Division and Global Ball Division. The Company also
announced four newly created positions to the Group:
- Rob Heinrich named Vice
President/General Manager of the Global Rollers Division
- Dario Galetti named Vice
President/General Manager of the Global Ball Division
- Jeff Hodge named Vice President
of Business Development
- Trevor Lynch named Group
Controller
Leading our global rollers division will be Rob Heinrich. Prior to this appointment
Mr. Heinrich served as general manager of NN's roller and stamped
parts operation in the Netherlands. Dario Galetti has been appointed to lead our
global ball division. Previously, he led the Company's
European ball division.
Jeff Manzagol, Senior Vice
President and General Manager of the Metal Bearing Components
Group, stated, "Rob and Dario have contributed greatly to NN over
the past years; their expertise and proven leadership will be
invaluable as we continue to expand our portfolio within these
newly formed divisions."
Supporting the newly organized divisions is Trevor Lynch who has been appointed Metal
Bearing Components Group Controller and Jeff Hodge who has been named Vice President of
Business Development.
Mr. Manzagol concluded, "These appointments highlight our
continued focus on strategically organizing our businesses to
deliver world class precision, quality and service to our customers
and end markets."
NN, Inc., a diversified industrial company, manufactures and
supplies high precision metal bearing components, industrial
plastic and rubber products and precision metal components to a
variety of markets on a global basis. Headquartered in
Johnson City, Tennessee, NN has 25
manufacturing plants in the United
States, Western Europe,
Eastern Europe, South America and China.
Except for specific historical information, many of the
matters discussed in this press release may express or imply
projections of revenues or expenditures, statements of plans and
objectives or future operations or statements of future economic
performance. These, and similar statements, are forward-looking
statements concerning matters that involve risks, uncertainties and
other factors which may cause the actual performance of NN, Inc.
and its subsidiaries to differ materially from those expressed or
implied by this discussion. All forward-looking information is
provided by the Company pursuant to the safe harbor established
under the Private Securities Litigation Reform Act of 1995 and
should be evaluated in the context of these factors.
Forward-looking statements generally can be identified by the use
of forward-looking terminology such as "assumptions", "target",
"guidance", "outlook", "plans", "projection", "may", "will",
"would", "expect", "intend", "estimate", "anticipate", "believe",
"potential" or "continue" (or the negative or other derivatives of
each of these terms) or similar terminology. Factors which could
materially affect actual results include, but are not limited to:
general economic conditions and economic conditions in the
industrial sector, inventory levels, regulatory compliance costs
and the Company's ability to manage these costs, start-up costs for
new operations, debt reduction, competitive influences, risks that
current customers will commence or increase captive production,
risks of capacity underutilization, quality issues, availability
and price of raw materials, currency and other risks associated
with international trade, the Company's dependence on certain major
customers, and the successful implementation of the global growth
plan including development of new products. Similarly, statements
made herein and elsewhere regarding pending or completed
acquisitions are also forward-looking statements, including
statements relating to the anticipated closing date of an
acquisition, the Company's ability to obtain required regulatory
approvals or satisfy closing conditions, the costs of an
acquisition and the Company's source(s) of financing, the future
performance and prospects of an acquired business, the expected
benefits of an acquisition on the Company's future business and
operations and the ability of the Company to successfully integrate
recently acquired businesses.
For additional information concerning such risk factors and
cautionary statements, please see the section titled "Risk Factors"
in the Company's periodic reports filed with the Securities and
Exchange Commission, including, but not limited to, the Company's
Annual Report on Form 10-K for the fiscal year ended December 31, 2013. Except as required by law, we
undertake no obligation to update or revise any forward-looking
statements we make in our press releases, whether as a result of
new information, future events or otherwise. NN, Inc. had sales of
$373 million in 2013.
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SOURCE NN, Inc.