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.
FOR FURTHER INFORMATION: AT THE COMPANY, Robbie Atkinson VP, Strategy & Investor Relations, (423) 434-8398; AT ABERNATHY MACGREGOR, Claire Walsh, (General info), (212) 371-5999