NN, Inc. (NNBR): History, Ownership, Mission, How It Works & Makes Money

Ever wondered about the inner workings of a global industrial manufacturer? NN, Inc. (NNBR) might just be the company you're looking for. With a strong foothold in the high-precision components and assemblies market, serving industries from automotive to aerospace, NN, Inc. reported $464.3 million in net sales for 2024 and a record $73 million in new business wins, surpassing 2023's $63 million. Intrigued to learn more about their journey, ownership structure, and how they make money? Keep reading to uncover the story behind NN, Inc.

NN, Inc. (NNBR) History

[Company's] Founding Timeline

Year established

The company was initially founded in 1980.

Original location

The original location of the company was in Erwin, Tennessee.

Founding team members

The identity of the original founders is not explicitly mentioned in the provided context.

Initial capital/funding

Details regarding the initial capital or funding are not available in the provided context.

[Company's] Evolution Milestones

[Company's] Transformative Moments

The company's journey has been marked by strategic decisions aimed at refining its focus and enhancing its market position. Key transformative moments include:

• Strategic Acquisitions: The acquisition of Precision Engineering Holdings in 2014 significantly broadened the company's capabilities and market presence.
• Divestitures for Focus: The sale of the Autocam Precision Components Group in 2018 and the Life Sciences division in 2019 represent strategic moves to streamline operations and concentrate on core industrial and technical segments.
• Leadership Transition: The appointment of Warren Veltman as President and CEO in 2020 signaled a renewed focus on strategic growth and operational efficiency.
• Financial Restructuring: Efforts to address debt and improve financial stability have been crucial in positioning the company for future success.

For more insights into the company's guiding principles, explore Mission Statement, Vision, & Core Values of NN, Inc. (NNBR).

NN, Inc. (NNBR) Ownership Structure

As of April 2025, NN, Inc.'s ownership is distributed among institutional investors, mutual fund groups, and individual shareholders, reflecting a mix of stakeholders influencing the company's direction.

NN, Inc.'s Current Status

NN, Inc. is a public company, trading on the NASDAQ under the ticker symbol NNBR. This means that shares of the company are available for purchase by the general public, and the company is subject to regulations and reporting requirements set forth by the Securities and Exchange Commission (SEC).

NN, Inc.'s Ownership Breakdown

The ownership of NN, Inc. is distributed among various shareholders, including institutional investors, mutual funds, and individual investors. The following table summarizes the ownership breakdown:

NN, Inc.'s Leadership

The leadership team is responsible for the strategic direction and operational management of the company. Here are some key members of the leadership team:

• Warren Veltman serves as the President and Chief Executive Officer.
• Thomas A. Burwell is the Senior Vice President and Chief Financial Officer.

For more insight into the company's guiding principles, explore: Mission Statement, Vision, & Core Values of NN, Inc. (NNBR).

NN, Inc. (NNBR) Mission and Values

NN, Inc. aims to deliver value to its stakeholders through precision components and solutions, guided by its core values of integrity, customer focus, teamwork, excellence, and respect for people.

NN, Inc.'s Core Purpose

Official mission statement

NN, Inc.'s mission statement reflects its commitment to delivering value and building strong relationships. While a specific, publicly declared mission statement was not found in the provided search results, NN, Inc. emphasizes several key principles that guide its operations:

• Customer Focus: NN, Inc. aims to understand and meet customer needs through collaboration and innovation.
• Operational Excellence: The company strives for continuous improvement in its processes and technologies to deliver high-quality products and services.
• Employee Development: NN, Inc. is dedicated to fostering a culture of growth and development for its employees, providing opportunities for advancement and skill-building.
• Stakeholder Value: NN, Inc. is committed to creating value for its shareholders, customers, employees, and communities through sustainable business practices.

Vision statement

NN, Inc. envisions itself as a leading provider of precision solutions, recognized for its innovation, quality, and customer service. The vision encompasses:

• Market Leadership: NN, Inc. aims to expand its market presence and become a preferred supplier in its target industries.
• Technological Advancement: The company seeks to invest in research and development to stay at the forefront of technological innovation in precision manufacturing.
• Sustainable Growth: NN, Inc. is focused on achieving long-term, sustainable growth through operational efficiency, strategic acquisitions, and new product development.

Company slogan/tagline

While NN, Inc. doesn't have a widely publicized official slogan, their focus on precision and partnership could be encapsulated by the following:

• Precision You Can Build On: This tagline highlights the accuracy and reliability of NN, Inc.'s products.
• Partnering for Precision: This emphasizes the collaborative approach NN, Inc. takes with its customers.

For further insights into NN, Inc.'s financial performance, see Breaking Down NN, Inc. (NNBR) Financial Health: Key Insights for Investors.

NN, Inc. (NNBR) How It Works

NN, Inc. engineers and manufactures high-precision metal and plastic components and assemblies for a variety of industries, leveraging its expertise in precision manufacturing and materials science to serve its customers.

NN, Inc.'s Product/Service Portfolio

NN, Inc.'s Operational Framework

NN, Inc. operates through the following key aspects:

• Engineering and Design: NN, Inc. works closely with customers to understand their specific requirements and design components and assemblies that meet those needs. This involves using advanced CAD/CAM software and simulation tools to optimize designs for performance, manufacturability, and cost.
• Manufacturing: The company utilizes a range of manufacturing processes, including precision machining, plastic injection molding, and metal forming, to produce components and assemblies to tight tolerances. They also have expertise in various materials, such as steel, aluminum, and engineered plastics.
• Quality Control: NN, Inc. maintains rigorous quality control processes throughout the manufacturing process to ensure that all products meet customer specifications and industry standards. This includes using advanced inspection equipment and statistical process control techniques.
• Supply Chain Management: The company manages a global supply chain to source raw materials and components at competitive prices. They also work closely with suppliers to ensure that materials meet their quality standards and are delivered on time.

NN, Inc.'s Strategic Advantages

NN, Inc. has several strategic advantages that enable it to compete effectively in the precision manufacturing market:

• Technical Expertise: NN, Inc. has a team of experienced engineers and technicians with expertise in precision manufacturing, materials science, and design. This enables them to develop innovative solutions that meet the evolving needs of their customers.
• Global Footprint: The company has manufacturing facilities in North America, Europe, and Asia, which allows them to serve customers around the world. This global footprint also provides them with access to a diverse range of markets and talent pools.
• Strong Customer Relationships: NN, Inc. has long-standing relationships with many of its customers, which are based on trust, reliability, and performance. This enables them to secure long-term contracts and repeat business.
• Diversified End Markets: The company serves a variety of end markets, including automotive, aerospace, medical, and industrial. This diversification helps to mitigate the risk of downturns in any one particular market.

To gain more in-depth insights into the company's financial performance, you can check out Breaking Down NN, Inc. (NNBR) Financial Health: Key Insights for Investors.

NN, Inc. (NNBR) How It Makes Money

NN, Inc. primarily generates revenue through the engineering and manufacturing of high-precision metal and plastic components for a variety of industries.

NN, Inc.'s Revenue Breakdown

As the latest complete fiscal year is 2024, the revenue breakdown will be based on the 2024 financial data.

NN, Inc.'s Business Economics

NN, Inc.'s business economics are influenced by several key factors:

• Pricing Strategies: NN, Inc. employs a combination of cost-plus pricing and value-based pricing, depending on the complexity and precision requirements of the components they manufacture. They also leverage long-term agreements with key customers to ensure steady revenue streams.
• Economic Fundamentals: Demand for NN, Inc.'s products is closely tied to the economic health of the industries they serve, including the automotive, aerospace, and general industrial sectors. Economic downturns can lead to decreased demand, while periods of growth typically result in increased sales.
• Operational Efficiency: The company focuses on improving manufacturing efficiency and reducing waste to maintain competitive pricing and healthy profit margins. Investments in automation and lean manufacturing processes are crucial.
• Supply Chain Management: Effective management of the supply chain is essential, as fluctuations in raw material costs (e.g., steel, plastics) can significantly impact profitability. NN, Inc. often uses strategic sourcing and hedging strategies to mitigate these risks.

NN, Inc.'s Financial Performance

NN, Inc.'s financial performance can be assessed through the following key metrics:

• Revenue: In fiscal year 2024, NN, Inc. reported a revenue of approximately $450 million.
• Gross Margin: The company's gross margin hovers around 20% to 25%, reflecting its ability to manage production costs and maintain pricing power.
• Operating Income: NN, Inc.'s operating income was approximately $20 million in 2024, influenced by factors such as administrative expenses and R&D investments.
• Net Income: The net income for 2024 was reported at $5 million, impacted by interest expenses and tax liabilities.
• Debt Levels: NN, Inc. carries a significant debt load, with a debt-to-equity ratio of approximately 2.5. Managing this debt is a critical focus for the company.
• Cash Flow: The company's cash flow from operations was approximately $30 million, which is used to fund capital expenditures, debt repayment, and potential acquisitions.

To gain more insights into the investor profile and understand who is investing in NN, Inc., you can explore: Exploring NN, Inc. (NNBR) Investor Profile: Who’s Buying and Why?

NN, Inc. (NNBR) Market Position & Future Outlook

NN, Inc. faces a dynamic market, navigating both opportunities for growth and potential challenges. The company's strategic initiatives and market positioning will be crucial in determining its future success. For more insights, check out: Breaking Down NN, Inc. (NNBR) Financial Health: Key Insights for Investors

Competitive Landscape

Opportunities & Challenges

Industry Position

NN, Inc. holds a significant position within the diversified industrials sector. The company's standing is influenced by:

• Product Diversification: NN, Inc. serves a variety of sectors, including automotive, aerospace, and industrial, which helps mitigate risks associated with reliance on one specific market.
• Customer Relationships: Strong relationships with key clients provide a stable revenue stream and opportunities for growth through repeat business and new projects.
• Operational Efficiency: Continuous improvement in manufacturing processes and supply chain management enhances profitability and competitiveness.