Business
NN, Inc. to Close Tennessee Shared Service Center
CHARLOTTE, N.C., April 18, 2019 /PRNewswire/ -- NN, Inc., (NASDAQ: NNBR) a diversified industrial company, today announced that it will close its shared
About this update from Nn, Inc.
[{"type":"text","content":" CHARLOTTE, N.C., April 18, 2019 /PRNewswire/ -- NN, Inc., (NASDAQ: NNBR) a diversified industrial company, today announced that it will close its shared services center in Johnson City, TN at the end of June. The move aligns with the Company's strategic focus on operating excellence and efficiency as it looks to streamline services and reduce cost as part of the NN Operating System. NN expects to retain certain roles and functions through relocation and other arrangements.\nRichard Holder, President and CEO, commented, \"The associates in our shared services center have worked diligently to support the business, and we greatly appreciate their efforts. We always carefully weigh decisions that affect our associates and we will work hard to support all team members affected by this decision. This decision, while difficult, will make NN a more agile and efficient company moving forward and better positions us to execute on our strategic plan.\"\nNN, 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. Headquartered in Charlotte, North Carolina, NN has 51 facilities in North America, Western Europe, Eastern Europe, South America and China.\nExcept 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\", \"antici...