NN, Inc. Advances Momentum with Continuation of its Joint Venture Partnership
NN, Inc. (NASDAQ: NNBR) has secured Chinese government approval to continue its Joint Venture partnership with Weifu in Wuxi, China, marking a significant milestone in their 20-year collaboration. The JV, known as Wuxi Weifu Autocam, generates approximately $130 million in annual sales and employs over 550 people across three shifts.
The partnership structure remains with Weifu holding 51% ownership and NN maintaining 49%. The JV serves as a key supplier to major Chinese OEMs, including BYD, in the world's largest automotive market of 29 million passenger vehicles annually. NN's total China operations, including two wholly-owned businesses, generate over $200 million in profitable sales and employ more than 1,200 people across their automotive, industrial, and medical market segments.
NN, Inc. (NASDAQ: NNBR) ha ottenuto l'approvazione del governo cinese per proseguire la sua partnership in joint venture con Weifu a Wuxi, Cina, segnando una tappa significativa della loro collaborazione ventennale. La JV, nota come Wuxi Weifu Autocam, genera circa 130 milioni di dollari di vendite annue e impiega oltre 550 persone su tre turni.
La struttura della partnership rimane invariata, con Weifu detentrice del 51% e NN al 49%. La JV è un fornitore chiave per importanti OEM cinesi, tra cui BYD, nel più grande mercato automobilistico del mondo con 29 milioni di veicoli passeggeri all'anno. Le operazioni totali della NN in Cina, comprese due aziende interamente controllate, superano i 200 milioni di dollari di vendite redditizie e impiegano oltre 1.200 persone nei settori automobilistico, industriale e medicale.
NN, Inc. (NASDAQ: NNBR) ha obtenido la aprobación del gobierno chino para continuar su asociación en una joint venture con Weifu en Wuxi, China, marcando un hito significativo en su colaboración de 20 años. La JV, conocida como Wuxi Weifu Autocam, genera aproximadamente 130 millones de dólares en ventas anuales y emplea a más de 550 personas en tres turnos.
La estructura de la asociación permanece con Weifu poseyendo el 51% y NN el 49%. La JV sirve como proveedor clave para importantes fabricantes de equipos originales (OEM) chinos, incluido BYD, en el mayor mercado automotriz del mundo de 29 millones de vehículos de pasajeros al año. Las operaciones totales de NN en China, incluidas dos empresas de propiedad absoluta, generan más de 200 millones de dólares en ventas rentables y emplean a más de 1.200 personas en sus segmentos automotriz, industrial y médico.
NN, Inc. (NASDAQ: NNBR)가 중국 정부의 승인을 받아 Weifu와의 주합작회사를 계속 운영하게 되었으며, 우시(Wuxi)에서의 협력 20주년을 기념하는 중요한 이정표를 세웠습니다. JV인 Wuxi Weifu Autocam은 연간 매출이 약 1억 3,000만 달러에 달하며 3교대에 걸쳐 550명 이상을 고용하고 있습니다.
파트너십 구조는 Weifu가 51%, NN이 49% 보유로 유지됩니다. 이 JV는 BYD를 포함한 중국의 주요 OEM에 대한 핵심 공급업체 역할을 하며, 세계 최대의 자동차 시장인 연간 2,900만 대의 승용차를 대상으로 합니다. NN의 중국 내 총 사업은 두 개의 전액 출자 법인을 포함해 2억 달러 이상의 수익성 있는 매출을 창출하며 자동차, 산업 및 의료 부문에서 1,200명 이상을 고용하고 있습니다.
NN, Inc. (NASDAQ: NNBR) a obtenu l’approbation du gouvernement chinois pour poursuivre son partenariat en coentreprise avec Weifu à Wuxi, en Chine, marquant une étape importante de leur collaboration de 20 ans. La JV, connue sous le nom de Wuxi Weifu Autocam, génère environ 130 millions de dollars de ventes annuelles et emploie plus de 550 personnes sur trois quarts.
La structure du partenariat reste inchangée, avec Weifu détenant 51% et NN 49%. La JV sert de fournisseur clé pour les principaux OEM chinois, y compris BYD, sur le plus grand marché automobile mondial qui compte 29 millions de véhicules passagers par an. Les opérations totales de NN en Chine, y compris deux sociétés entièrement détenues, génèrent plus de 200 millions de dollars de ventes rentables et emploient plus de 1 200 personnes dans les secteurs automobile, industriel et médical.
NN, Inc. (NASDAQ: NNBR) hat die Genehmigung der chinesischen Regierung erhalten, seine Joint-Venture-Partnerschaft mit Weifu in Wuxi, China, fortzusetzen, was einen bedeutenden Meilenstein in der 20-jährigen Zusammenarbeit markiert. Die JV, bekannt als Wuxi Weifu Autocam, erwirtschaftet ca. 130 Millionen US-Dollar Umsatz pro Jahr und beschäftigt über 550 Personen auf drei Schichten.
Die Struktur der Partnerschaft bleibt unverändert, mit Weifu in 51% und NN in 49%. Die JV dient als wichtiger Lieferant für große chinesische OEMs, darunter BYD, im größten Automobilmarkt der Welt mit 29 Millionen Personenkraftwagen pro Jahr. Die Gesamttätigkeiten von NN in China, einschließlich zweier vollständig eigener Unternehmen, generieren über 200 Millionen US-Dollar an profitablen Umsätzen und beschäftigen mehr als 1.200 Menschen in den Segmenten Automobil, Industrie und Medizin.
NN, Inc. (ناسداك: NNBR) حصلت على موافقة الحكومة الصينية لاستمرار شراكتها في مشروع مشترك مع Weifu في ووشي، الصين، وهو ما يمثل علامة فارقة مهمة في تعاونهما المستمر منذ 20 عامًا. يعرف المشروع المشترك باسم Wuxi Weifu Autocam، ويمتلك حوالي 130 مليون دولار من المبيعات السنوية ويُشغّل أكثر من 550 شخصًا عبر ثلاث مناوبات.
تظل هيكلية الشراكة كما هي، مع Weifu تمتلك 51% وNN 49%. يُعد المشروع المشترك مورِّدًا رئيسيًا لمصنّعين أصليين رئيسيين في الصين، بما في ذلك BYD، في أكبر سوق سيارات في العالم الذي يبلغ 29 مليون مركبة ركاب سنويًا. عمليات NN الإجمالية في الصين، بما في ذلك اثنان من الشركات المملوكة بالكامل، تحقق أكثر من 200 مليون دولار من المبيعات المربحة ويعمل فيها أكثر من 1,200 شخص عبر قطاعات السيارات والصناعة والطب.
NN, Inc. (NASDAQ: NNBR) 已获得中国政府批准，继续与伟福在无锡的合资伙伴关系，这是他们20年合作的一个重要里程碑。合资企业名为无锡伟福自动Cam，年销售额约为1.3亿美元，三班制共雇佣超过550人。
合资结构保持不变，伟福持股51%，NN持股49%。该合资企业是中国主要原始设备制造商（OEM）的关键供应商之一，客户包括比亚迪等，在全球最大的汽车市场中，年产量达到2900万辆乘用车。NN在中国的总运营（含两家全资企业）实现> 2亿美元的盈利销售额，并在汽车、工业和医疗市场领域雇佣超过1200人。
- JV generates significant revenue of $130 million USD annually
- Strong presence in China, the world's largest auto market with 29M vehicles annually
- Total China operations deliver $200+ million in profitable sales
- Successful 20-year track record of consistent growth
- Current expansion underway due to new business wins
- Minority ownership position with 49% stake in the JV
- Heavy dependence on Chinese market and regulations
Insights
NN's renewed China JV secures $130M annual revenue stream in world's largest auto market, strengthening its $200M+ Asia footprint.
The Chinese government's approval for the continuation of NN's joint venture with Weifu represents a significant strategic victory for the company. This 20-year partnership, generating approximately
What makes this particularly valuable is the positioning within China's automotive supply chain. The JV supplies high-precision components to major Chinese OEMs including BYD, China's dominant electric vehicle manufacturer. This positions NN at the intersection of two crucial trends: China's expanding auto production and the global EV transition.
The JV's current expansion due to new business wins indicates strong customer demand and market validation for their high-precision engineering capabilities. With three operations across China (the 49%-owned JV, plus wholly-owned machining and stamping businesses), NN has established a diversified manufacturing footprint generating over
The fact that both NN's CEO and COO serve on the JV's board demonstrates the strategic importance of this partnership to NN's global operations. By maintaining this key position in China's supply chain while also having wholly-owned operations, NN has created a balanced approach to capturing growth in the region while mitigating some political and operational risks through the local partnership structure.
NN Proudly Extends its Successful China Joint Venture
Wuxi Weifu Autocam team celebrates 20 year anniversary of the JV partnership
CHARLOTTE, N.C., Sept. 18, 2025 (GLOBE NEWSWIRE) -- NN, Inc. (NASDAQ: NNBR), a global diversified industrial company that engineers and manufactures high-precision components and assemblies, has announced that the Chinese government has approved the application for the continuation of its Joint Venture (“JV”) in Wuxi, China. This formal approval now extends the successful 20-year partnership between NN, Inc. and Weifu, a Chinese publicly traded company, on an ongoing basis.
Harold Bevis, Chief Executive Officer of NN, Inc. stated, "We are very proud of the JV, and together with our partner Weifu we have been able to strategically grow this business consistently over the 20-year partnership. The team is strong, growing and delivers high-level performance. The products of the JV are critical to vehicle performance and highly valued by our customers and local automotive OEMs. The China auto industry is a standout on the global stage and we are happy to play a key role in this attractive growth market through both our JV and our wholly-owned businesses. NN has more than
Known in the China automotive market as Wuxi Weifu Autocam, the JV business has demonstrated consistent growth, now delivering sales of approximately
The business is currently going through an expansion, having won additional business and has recently outgrown its current building footprint, which employs over 550 people across 3 shifts.
Paul Wang, NN’s President of APAC operations serves as the General Manager of the Joint Venture, reporting to Harold Bevis, CEO of NN. Harold Bevis and NN’s Chief Operating Officer, Tim French, both serve on the Board of Directors of the Joint Venture company. The business is
Wuxi Weifu Autocam facility
About NN, Inc.
NN, Inc., a global diversified industrial company, combines advanced engineering and production capabilities with in-depth materials science expertise to design and manufacture high-precision components and assemblies for a variety of markets on a global basis. Headquartered in Charlotte, North Carolina, NN has facilities in North America, Europe, South America, and Asia. For more information about the company and its products, please visit www.nninc.com.
Investor Relations:
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NNBR@alpha-ir.com
312-445-2870
Photos accompanying this announcement are available at
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