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Press Release

NN, Inc. Announces Two Senior Level Appointments Following Completion Of Autocam Acquisition

JOHNSON CITY, Tenn., Sept. 11, 2014 /PRNewswire/ -- NN, Inc. (Nasdaq: NNBR) today announced two senior vice president appointments:

  • J.R. Widders named Senior Vice President of Corporate Integration and Transformation
  • Warren Veltman named Senior Vice President and General Manager of the Company's newly formed Autocam Precision Components Group

Richard Holder, President and Chief Executive Officer, stated, "In conjunction with advancing our business plan to further grow our Company through strategic acquisitions we have dedicated resources to ensure we have the leadership in place to support these efforts. Therefore, we are pleased to have made two significant appointments following our recent acquisition of Autocam Corporation.   

"J.R's appointment to a newly created position, Sr. Vice President of Corporate Integration and Transformation, underscores our commitment to focus on the successful integration of both current and future acquisitions and the realization of identified synergies. J.R. will lead a dedicated team of integration specialists who will work with our acquired companies on the incorporation of strategies, goals and objectives along with the alignment of business, informational and operational processes."

Mr. Holder continued, "Additionally, as part of our commitment to further leveraging the strong brand name of Autocam in the marketplace  we have renamed the Precision Metal Components segment the Autocam Precision Components Group.  We have combined our Whirlaway and VS businesses with Autocam under this new product segment.

"Warren, who was most recently Chief Financial Officer at Autocam, will head up this group as Sr. Vice President and General Manager of the Autocam Precision Components Group.   His extensive experience and accomplishments while serving with Autocam make him an ideal individual to lead this important group."

J. R. Widders has served as NN's Vice President and General Manager of the Precision Metal Components Division since 2010.  He was with Whirlaway Corporation prior to its acquisition by NN, Inc. and also held management positions Technifab, Inc. and GE Superabrasives.

Warren Veltman served as Chief Financial officer of Autocam Corporation from 1990 and Secretary & Treasurer since 1991.  Prior to Autocam, he was an Audit Manager with Deloitte & Touche. 

NN, Inc. manufacturers 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 25 manufacturing plants in the United States, 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 pending or completed acquisitions are also forward-looking statements, including statements relating to the anticipated closing date of an acquisition, the Company's ability to obtain required regulatory approvals or satisfy closing conditions, the costs of an acquisition and the Company's source(s) of financing, 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, 2013.  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.

SOURCE NN, Inc.

Robbie Atkinson, Treasurer and Investor Relations Manager, NN, Inc., (423) 743-9151; or Financial Relations Board: Marilynn Meek, (General info), 212-827-3773