JOHNSON CITY, Tenn.,
Sept. 18, 2014 /PRNewswire/ -- NN,
Inc. (Nasdaq: NNBR) announced today that effective October 6, 2014 Jeff Manzagol will join the
Company as Senior Vice President and General Manager of the
Company's Metal Bearing Components Group. In a planned transition,
Mr. Manzagol succeeds Frank Gentry,
who will retire at year-end after more than 30 years with NN. Mr.
Manzagol will be responsible for directing and coordinating the
activities of the Metal Bearing Components Group, as well as for
developing the long range goals and achieving strategic operational
and financial objectives for the segment.
Richard Holder, President and
Chief Executive Officer, commented, "Frank leaves an indelible mark
on our Company. With three plus decades of dedicated service to
NN's Metal Bearings Group, he has been a part of nearly every
milestone of NN's history. We thank Frank for his leadership and
service and wish him all the best in his well-deserved
retirement."
Mr. Manzagol steps into his role of Senior Vice President with
more than 36 years in metal bearings, and high precision
manufacturing leadership and experience, most recently as President
of the Bearings Division at Kaydon Corporation. Previously, he held
various leadership positions at SKF Group, including President, and
General Manager of Operations at the Armada, Michigan Facility.
Mr. Holder continued, "Jeff's extensive knowledge and expertise
across all segments of our Metal Bearing Components platform make
him uniquely qualified to head this segment of our business. His
leadership will be invaluable as we continue to execute our
strategic business plan."
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.