JOHNSON CITY, Tenn.,
Feb. 11, 2014 /PRNewswire/
-- NN, Inc. (Nasdaq: NNBR) announced today its Board of
Directors declared a quarterly cash dividend of $0.07 per common share. The dividend will be paid
on March 14, 2014, to shareholders of
record as of the close of business on February 28.
Rich Holder, President and Chief
Executive Officer of NN, Inc. commented, "We are pleased to
announce the increase in our dividend from $0.06 per common share to $0.07 per common share. This action, in
combination with our recent announcement of the acquisition of the
assets of V-S Industries, illustrates key elements of our new
strategic plan. The proper execution of this plan is enabling
us to invest in and execute our strategic priorities, while also
returning value to our shareholders."
NN, Inc. manufactures 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 12 manufacturing plants in the United States, Western Europe, Eastern Europe, Mexico and China. NN, Inc. had sales of
US $370 million in 2012.
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 Form 10-K for the fiscal
year ended December 31, 2012.
SOURCE NN, Inc.