JOHNSON CITY, Tenn.,
Sept. 22, 2017 /PRNewswire/
-- NN, Inc., (NASDAQ: NNBR) a diversified industrial company,
today announced that it will relocate its global headquarters to
Charlotte, North Carolina from
Johnson City, Tennessee. The move
supports NN's strategy of building a diversified industrial
business through improved access to customers, the availability of
advanced infrastructure and enhanced logistics.
Richard Holder, President and
CEO, commented,
"Relocating our headquarters to Charlotte, a national transportation hub with
global accessibility, aligns closely with our strategy of building
a diversified industrial business by being closer to our customers
and ensuring greater collaboration between our
business units. As a company focused on technology and innovation,
NN will benefit from Charlotte's
enhanced infrastructure, as well as its growing talent pool and
robust business climate."
NN expects the transition to Charlotte to take place early in 2018.
Approximately 200 employees will be based at NN's new corporate
headquarters in Charlotte.
Additionally, NN will continue to have a presence in Johnson City.
Holder concluded, "NN was founded in Tennessee in 1980 and will continue to
maintain a presence in Johnson
City. We have had a positive relationship with the state for
many years, and while our roots are in Tennessee, we are looking forward to growing
in North Carolina and serving our
33 manufacturing locations across the world."
NN, Inc., a diversified industrial company combines advanced
engineering and production capabilities with in-depth materials
science expertise to design and manufacture high-precision
components and assemblies for a variety of markets on a global
basis. NN has 33 manufacturing plants in North America, 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 completed acquisitions are also
forward-looking statements, including statements relating to 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, 2016. 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.
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SOURCE NN, Inc.