JOHNSON CITY, Tenn.,
Sept. 11, 2014 /PRNewswire/
-- NN, Inc. (Nasdaq: NNBR) today announced two senior
vice president appointments:
- J.R. Widders named Senior Vice
President of Corporate Integration and Transformation
- Warren Veltman named Senior Vice
President and General Manager of the Company's newly formed Autocam
Precision Components Group
Richard Holder, President and
Chief Executive Officer, stated, "In conjunction with advancing our
business plan to further grow our Company through strategic
acquisitions we have dedicated resources to ensure we have the
leadership in place to support these efforts. Therefore, we
are pleased to have made two significant appointments following our
recent acquisition of Autocam Corporation.
"J.R's appointment to a newly created position, Sr. Vice
President of Corporate Integration and Transformation, underscores
our commitment to focus on the successful integration of both
current and future acquisitions and the realization of identified
synergies. J.R. will lead a dedicated team of integration
specialists who will work with our acquired companies on the
incorporation of strategies, goals and objectives along with the
alignment of business, informational and operational
processes."
Mr. Holder continued, "Additionally, as part of our commitment
to further leveraging the strong brand name of Autocam in the
marketplace we have renamed the Precision Metal Components
segment the Autocam Precision Components Group. We have
combined our Whirlaway and VS businesses with Autocam under this
new product segment.
"Warren, who was most recently Chief Financial Officer at
Autocam, will head up this group as Sr. Vice President and General
Manager of the Autocam Precision Components Group. His
extensive experience and accomplishments while serving with Autocam
make him an ideal individual to lead this important group."
J. R. Widders has served as NN's
Vice President and General Manager of the Precision Metal
Components Division since 2010. He was with Whirlaway
Corporation prior to its acquisition by NN, Inc. and also held
management positions Technifab, Inc. and GE Superabrasives.
Warren Veltman served as Chief
Financial officer of Autocam Corporation from 1990 and Secretary
& Treasurer since 1991. Prior to Autocam, he was an Audit
Manager with Deloitte & Touche.
NN, Inc. manufacturers 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.
SOURCE NN, Inc.