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NN Inc. sells Precision Bearing Components for $375M

Published 08/17/2017, 11:31 AM
© Reuters.  NN Inc. sells Precision Bearing Components for $375M
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  • NN Inc. (NNBR +0.8%) completes the sale of its Precision Bearing Components business to Japn's Tsubaki Nakashima for $375M.
  • Precision Bearing Components includes the group of heritage product lines - such as the production of balls, rollers, cages and sheet metal parts - from when the company was known as NN Ball & Roller.
  • NN says it plans to redeploy the proceeds from the sale into higher-growth, higher-margin end markets while also accelerating its focus on deleveraging.
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