NN Consolidates Operations & Expands Capacity In São Paulo, Brazil
NN, Inc (NASDAQ: NNBR) has opened a state-of-the-art 50,000+ square foot facility in São Paulo, Brazil.
The company has ~600 employees in São João da Boa Vista. The new facility will provide jobs for an additional 200 employees.
With the newly expanded capacity in São João da Boa Vista, NN will be able to meet the demand for precision machined components and assemblies for electric vehicles, plug-in hybrids, and internal combustion engine vehicles.
NN, which conducts business in Brazil under the Autocam name, is moving certain operations from Boituva, So Paulo, to the current So Joo da Boa Vista location. The action takes advantage of incentives the So Joo da Boa Vista local government provides.
Price Action: NNBR shares traded flat at $1.09 on Monday.
Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.
This article NN Consolidates Operations & Expands Capacity In São Paulo, Brazil originally appeared on Benzinga.com
.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
