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NN Inc. (Nasdaq: NNBR), Johnson City, TN, has acquired the majority of outstanding shares of RFK Valjcici d. d. Konjic and expects to acquire the remaining shares in the near future. RFK is a manufacturer of tapered roller bearings with operations in Konjic, Bosnia and Herzegovina.
RFK had sales of US$373 million in 2013. Its products serve the European truck, industrial vehicle and railway markets. NN will continue operations at the existing facilities in Bosnia and will roll up operations under its NN Metal Bearing Components Group.
“The acquisition of RFK increases our global manufacturing footprint in Eastern Europe and will strengthen our current product offering to our existing customer base while allowing us to further penetrate the truck, industrial vehicle and railway markets,” said Richard Holder, president and CEO. “We remain actively engaged in discussions with other acquisition targets and expect to announce additional transactions in the near future.”
NN Inc., a manufacturer of high precision metal bearing components, industrial plastic and rubber products and precision metal components, has 12 manufacturing plants in the U.S., Western Europe, Eastern Europe and China.