NN, Inc. today announced it will close its manufacturing facility located in Hamilton, Ohio. The Hamilton facility is one of four manufacturing facilities acquired in the 2006 acquisition of Whirlaway Corporation. Whirlaway produces a variety of high-precision metal components including fluid control components and assemblies, shafts and other precision metal parts. Operations in Hamilton are expected to cease by the end of March 2009 with production being transferred to Whirlaway’s manufacturing facilities in Wellington, Ohio. The closing will impact approximately 20 employees.
Mr. Roderick R. Baty, Chairman and Chief Executive Officer, commented, “The closing of the Hamilton plant is a very difficult decision. Unfortunately, current business conditions do not support the operation of this facility. The closing will in no way affect our ability to provide product to our customers. We expect to incur cash charges of approximately $0.2 million in severance, equipment relocation and other closing costs in the first quarter of 2009.”
Mr. Thomas G. Zupan, President of Whirlaway, commented, “We fully realize the financial impact this decision has on our dedicated employees in Hamilton. I would like to thank them for their commitment and service to Whirlaway and NN. We will work with them to lessen the negative impact of this difficult transition.”
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 13 manufacturing plants in the United States, Western Europe, Eastern Europe and China. NN, Inc. had sales of US $421 million in 2007.
Other News:
Rolling World SKF Distributor in Serbia Signed SKF Certified Maintenance Partner Program Contract
NN, Inc. to Close Hamilton Manufacturing Facility
Catalog Data Solutions Claims Over 40% Growth in 2008
High-efficiency Bearings Exhibit 30% Less Friction (Pic)
SAE Airframe Control Bearing Group Conference April 28-30, Las Vegas USA
Schaeffler Completes Takeover of Continental AG
New Range of Greases Set for 2009 Launch
Timken Makes Forbes Platinum 400 List on Financial Strength
