This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
JOHNSON CITY, Tenn., Jan. 12, 2012 /PRNewswire/ --
NN, Inc. (Nasdaq: NNBR) today announced that
Jim Dorton, Senior Vice President, will assume the additional responsibility of General Manager of the Company's Plastic and Rubber business unit. The Plastic and Rubber business unit is comprised of the Industrial Molding and Delta Rubber operations and had revenues of
$39.1 million in 2010.
Mr. Dorton joined NN in June of 2005 as Vice President, CFO and Corporate Development. He was promoted to Senior Vice President in
May 2010. In addition to his new responsibilities, he will continue in his current role as Senior Vice President, Corporate Development and Chief Financial Officer.
Roderick R. Baty, Chairman and Chief Executive Officer commented, "I am pleased to announce Jim's additional management responsibilities of heading up our Plastic and Rubber business unit. At the time of Jim's promotion to Senior Vice President in 2010, we stated there was an expectation he would assume additional management responsibilities at the senior most levels of the company. These additional operational management responsibilities are consistent with that direction and should strengthen our organization's ability to serve the needs of our global customers moving forward."
NN, Inc. manufacturers and supplies high precision metal bearing components, industrial plastic and rubber products and precision metal components to a variety of end markets on a global basis. Headquartered in
Johnson City, Tennessee, NN has 10 manufacturing plants in
the United States,
Eastern Europe and China. NN, Inc. had sales of US
$365 million in 2010.
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, the successful implementation of the global growth plan including development of new products and consummation of potential acquisitions and other risk factors and cautionary statements listed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission, including, but not limited to, the Company's Annual Report on 10-K for the fiscal year ended
December 31, 2010.