McKown Named Director NN Asia
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NN, INC. NAMES THOMAS MCKOWN MANAGING DIRECTOR–NN ASIA
Johnson City, Tenn –January 5, 2004– NN, Inc. today announced the Company’s Board of Directors named Thomas W. McKown, 38, to the newly established position of Managing Director-NN Asia.
In making the announcement, Roderick R. Baty, Chairman and Chief Executive Officer, said, “We are excited to have Tom join us and assume this new role. His leadership as Managing Director-NN Asia will be instrumental as we implement our strategy to globally expand our manufacturing base. Initially, NN Asia will be established in the Shanghai, China area. Tom will have management responsibility for the execution of a business strategy that will incorporate an integrated sales, marketing and manufacturing plan designed to serve our bearing customers in Asia. Tom’s extensive experience in the region will provide us with valuable insight as we explore a wide variety of business alternatives. We look forward to the opportunity to more fully serve our global customers in this vitally important region of the world,” concluded Mr. Baty.
Prior to joining NN, Mr. McKown most recently served as Managing Director-China, of Camfil Farr AB, a manufacturer of commercial air filters. His 10 years of Asian experience include business management assignments throughout Taiwan, Malaysia, Hong Kong, and China.
NN, Inc. manufacturers and supplies high precision bearing components, consisting of balls, rollers, seals and retainers, for leading bearing manufacturers on a global basis and had sales of US $193 million in 2002.
The comments by Mr. Baty regarding the company’s global expansion may include forward looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve a number of risks and uncertainties that may cause actual results to be materially different from such forward-looking statements. Such factors include, among others, general economic conditions and economic conditions in the industrial sector, competitive influences, risks that current customers will commence or increase captive production, risks of capacity underutilization, quality issues, availability of raw materials, currency and other risks associated with international trade, the Company’s dependence on certain major customers, 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 10-K for the fiscal year ended December 31, 2002.
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