NN reports $62.6M in new business wins in 2023

NN reports a record-breaking 2023, with $62.6M in new business wins. “Ending with a strong second half, this acceleration in new business awards is a direct result of the company’s new transformational business strategy. NN continues to gain traction with wins in desirable and diversified markets through better focus, targeting and harnessing its collective strengths.”Part of our transformation plan is to improve how we engage our customers and the marketplace. Our new business wins in 2023 are validation that its working and that’s great news,” said Harold Bevis, CEO of NN, Inc. “This opens the door for our team to partner with customers and suppliers to create unique and breakthrough value-added solutions. We are capitalizing on our highly technical process capabilities, our existing footprint and know-how. The goal is to win business, grow sales and profits.” NN’s pipeline of new business opportunities entering 2024 is focused and approximately $500 million in size. NN is continuing to evolve and strengthen its growth programs by focusing on specific product applications including electric steering systems, electrical systems, braking systems, electricity distribution, battery management, fluid management, EV charging systems and medical components. These are natural markets for NN’s focus on precision engineered metal products and in-house proprietary tool design,” said the company.