NN Inc. (USA; NASDAQ:NNBR) announced its second plant closing within the past few weeks, underscoring the depth of the U.S. manufacturing economy's underlying weakness.

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The company will close its Whirlaway manufacturing plant in Hamilton, Ohio by the end of next month -- the end of first quarter of 2009 -- a particularly fast move by any standard. Three other Whirlaway facilities are so far unaffected.

Acquired by NN in late 2006, Whirlaway specializes in Swiss turning. Its product line includes highly engineered, high-precision, fluid control components and assemblies, shafts and prismatic machined parts for the air conditioning, appliance, automotive, commercial refrigeration and diesel engine markets.

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The Whirlaway operations have been spread across four facilities. Back as far as when it acquired the company, NN had been expected to consolidate Whirlaway's operations -- long before the current economic downturn began to accelerate.

Approximately 20 workers will lose their jobs in Hamilton as production moves Whirlaway's headquarters plant in Wellington, Ohio. Wellington is in rural north-central Ohio, while Hamilton is in southwest Ohio, on the outskirts of Cincinnati.

Rock Baty, NN's Chairman and CEO, said: "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 $200,000 in severance, equipment relocation and other closing costs in the first quarter of 2009."

Tom Zupan, Whirlaway's President, said: "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 decision."