NN Consolidates Operations & Expands Capacity In São Paulo, Brazil

NN, Inc 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.