JOHNSON CITY, Tenn., Aug. 8, 2016 /PRNewswire/ -- NN, Inc., (NASDAQ: NNBR), a diversified industrial company, today announced its China joint venture, Wuxi Weifu Autocam Precision Machinery Co. Ltd., has won the Bosch Asia Pacific Supplier Award for "superior quality and excellent performance."
NN's joint venture provides high precision complex machined parts to Bosch for the Chinese market.
"We are the largest supplier to Bosch's UAES group in China and are proud to be recognized for our quality performance and advanced machining technologies," said Brian Simon, General Manager NN Autocam Precision Components group China. "We will continue to work hard to maintain this level of performance across our entire business and to continue our success with Bosch by providing engineered solutions for all their precision machined component needs."
NN and Weifu have been operating together in China for over 10 years during which time the Joint Venture has established itself as the leading supplier of high precision machined components. Advanced machining technologies and a highly skilled team providing engineered products have enabled this business to solidify its position as the market leader.
"Supplier awards, such as this one from Bosch, validate that our strategy to provide engineered product solutions with world class manufacturing technologies is working," said Richard Holder, President and CEO. "Our team in China is very talented and this award is a result of all the hard work they have put in to make this business a success."
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. Headquartered in Johnson City, Tennessee, NN has 41 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, 2015. 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.
AT THE COMPANY: Robbie Atkinson, VP, Corporate Treasurer & Investor Relations, (423) 434-8398, AT FINANCIAL RELATIONS BOARD: Marilynn Meek, (General info), 212-827-3773