NN, Inc. Reaffirms Commitment to Precision Engineered Products Acquisition
JOHNSON CITY, Tenn. - NN, Inc., (NASDAQ: NNBR) a diversified industrial company, today announced it remains committed to closing the Precision Engineered Products (P.E.P.) acquisition. The Company has a committed financing structure and expects the transaction to close on time before the end of October.
Richard Holder, President CEO commented, "We remain committed to closing the P.E.P. acquisition this month as outlined on the call announcing the acquisition. We are confident in the capital structure and our ability to de-lever over time. The strategic importance of P.E.P. to NN remains as we look to balance our end markets, expand our offerings, grow margins and create a consistent earner through the economic cycle."
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 26 manufacturing plants in the North America, Western Europe, Eastern Europe, South America and China.
SOURCE NN, Inc.
CONTACT: AT THE COMPANY, Robbie Atkinson, Corporate Treasurer Investor Relations, (423) 434-8398; AT FINANCIAL RELATIONS BOARD, Marilynn Meek, (General info), 212-827-3773
