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The eBearing News
April 27, 2000
NN Ball & Roller Reports Significant Sales and Income
Growth in First Quarter 2000
copyright © 2000 eBearing Inc.
NN Ball & Roller (Erwin, Tennessee) reported 1Q2000 Net sales of $28 million vs. $17.9 million in
1Q1999 and Net income of $2.1 million vs. $1.9 million in 1Q1999.
NN's Industrial Molding Corporation subsidiary contributed $8.9 million in sales
and two weeks sales representing 30% ownership of Jiangsu General Ball & Roller, a
joint venture which includes General Bearing, reported here earlier.
Click here to read the earlier Jiangsu acquisition article
NN suffered a major fire at its Erwin, Tennessee facility in March. Rock Baty,
NN's President and CEO, indicated that earnings growth would have been stronger if the
gross margins of the core ball and roller business had not been impacted by the fire.
As a result of the fire, NN was forced to shift some production to three other facilities
and use other suppliers to fill in customer orders. The higher costs caused by these
moves are reflected in the lower operating margins for 1Q2000.
The company says it expects to be fully recovered and back in full production at its
Erwin facility by the end of June, 2000.
• read the earlier NN factory fire article
In early April, NN announced the establishment of a new company in Europe in a joint
venture with their two biggest customers, SKF and FAG, called NN Euroball ApS.
Click here to read the earlier Euroball announcement article
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- by Bruce A. Carr
from individual research,
tips and commercial sources.
Unauthorized reproduction is prohibited.
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eBearing.com ... for everything that moves™
Entire contents Copyright 1999-2008, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered
trademarks of eBearing Inc.
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eBearing.com ... for everything that moves™
Entire contents Copyright © 1999-2008, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered trademarks of eBearing Inc.
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