- NN, Inc. (NASDAQ:NNBR) on Tuesday said that it has entered a definitive agreement to sell its lone plastics products plant known as Industrial Molding Corporation to Davalor Mold Company.
- The total proceeds will be about $16M.
- The company plans to pay down debt with the proceeds from the transaction and continue to advance its balance sheet initiatives.
- Due to the divestiture and debt reduction, the company said it would be revising its full-year 2024 outlook, where revenue will be in the range of $465M to $485M.
- Press release.
2024-07-02