NN ( NNBR) reached an outsourcing deal with SNR Roulements of France.

The Johnson City, Tenn., ball bearing company said the 5 million-euro purchase of internal precision ball producing equipment will come from SNR's plant in Annecy, France. In return, NN will get a five-year supply agreement to provide SNR with an additional $9 million worth of its annual ball requirements. The product will be supplied from NN Europe's existing precision ball operations utilizing the purchased equipment as well as existing equipment and personnel.

"We are pleased this outsourcing transaction will allow us to further serve SNR," said NN chief Roderick R. Baty. "Additionally, the purchase agreement is consistent with our business strategy of enhancing our existing customer relationships by adding additional value through our component manufacturing and service competencies. The transaction, which is immediately accretive, will increase our current revenues with SNR from approximately $9.0 million to $18.0 million annually."

On Friday, shares of NN rose 48 cents to $11.65.

More from Stocks

Why The FANG Stocks' Dominance May Not Be So Bad For The Market

Why The FANG Stocks' Dominance May Not Be So Bad For The Market

Danica Patrick's Final Race at 2018 Indianapolis 500: What She Thinks About Cars

Danica Patrick's Final Race at 2018 Indianapolis 500: What She Thinks About Cars

At End of May, Investors Signalling They May Stay Away

At End of May, Investors Signalling They May Stay Away

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Neel Kashkari: The Heart of Our Financial System Is More Radioactive Than Ever

Neel Kashkari: The Heart of Our Financial System Is More Radioactive Than Ever