NN Profile
NN, Inc. is a diversified industrial company that combines in-depth materials science expertise with advanced engineering and production capabilities to design and manufacture high-precision metal and plastic components and assemblies for a variety of end markets on a global basis.
The company’s enterprise and management structure is designed to accelerate growth and further balance its portfolio by aligning its strategic assets and businesses. The company’s businesses are organized into the Mobile Solutions and Power Solutions groups and are based principally on the end markets they serve.
Business Segments and Products
Mobile Solutions
Mobile Solutions focuses on growth in the automotive and general industrial end markets. The company has developed an expertise in manufacturing highly complex, tight tolerance, system critical components. The company’s technical capabilities can be utilized in numerous applications, including for use in battery electric, hybrid electric, and internal combustion engine vehicles. The group manufactures components on a high-volume basis for use in power steering, braking, transmissions, and gasoline fuel system applications, along with components utilized in heating, ventilation and air conditioning and diesel injection and diesel emissions treatment applications. This expertise has been gained through investment in technical capabilities, processes and systems, and allows the company to provide skilled program management and product launch capabilities.
Power Solutions
Power Solutions focuses on growth in the electrical, general industrial, automotive, and medical end markets. Within this group the company combines materials science expertise with advanced engineering and production capabilities to design and manufacture a broad range of high-precision metal and plastic components, assemblies, and finished devices used in applications ranging from power control to transportation electrification. The company manufactures a variety of products, including electrical contacts, connectors, contact assemblies, and precision stampings for the electrical end market and high precision products for the aerospace and defense end market utilizing its extensive process technologies for optical grade plastics, thermally conductive plastics, titanium, Inconel, magnesium, and electroplating. The company’s medical business includes the production of a variety of tools and instruments for the orthopaedics and medical/surgical end markets.
Customers
The company’s products are supplied primarily to manufacturers for use in a broad range of industrial applications, including automotive; electrical; agricultural; construction; residential devices and equipment; aerospace and defense; medical; heating, ventilation, and air conditioning; and fluid power and diesel engines. Sales to each of the company’s top ten customers are made to multiple customer locations and divisions throughout the world. In 2022, the company’s top ten customers accounted for approximately 48% of its net sales. In 2022, 70% of the company’s products were sold to customers in North America, 13% to customers in Asia, 10% to customers in South America, and 7% to customers in Europe.
The company sells its products to most of its largest customers under either sales contracts or agreed upon commercial terms. The company ordinarily ships its products directly to customers within 60 days.
Competition
Mobile Solutions: The company’s primary competitors are Anton Häring KG; A. Berger Holding GmbH & Co. KG; Brovedani Group; Burgmaier Technologies GmbH & Co. KG; CIE Automotive, S.A.; IMS Companies; and MacLean-Fogg Component Solutions.
Power Solutions: The company’s primary competitors are Checon Corporation; Deringer-Ney, Inc.; Electrical Contacts, Ltd.; Interplex Industries, Inc.; J&J Machining, LLC; Norstan, Inc.; Owens Industries, Inc.; and Precinmac Precision Machining.
Patents, Trademarks and Licenses
The company has several U.S. patents, patent applications and trademarks for various trade names
Seasonality
General economic conditions impact the company’s business and financial results, and certain businesses experience seasonal and other trends related to the industries and end markets that they serve. For example, European sales are often weaker in the summer months as customers slow production and sales to original equipment manufacturers are often stronger immediately preceding and following the launch of new products. However, as a whole, the company is not materially impacted by seasonality.
Government Regulations and Environmental Matters
In the U.S. certain of the company’s products and operations are regulated by the Environmental Protection Agency. Similar regulations have been adopted by authorities in foreign countries where the company sells its products, and by state and local authorities in the U.S.
History
NN, Inc. was founded in 1980.
