CHARLOTTE, N.C., November 29, 2022 /Globe Newswire/ — NN, Inc. (NASDAQ: NNBR), a global diversified industrial company, and Nylacast Automotive are pleased to announce their collaboration on electric power steering (EPS) worm wheel and worm shaft gearsets.
NN, a manufacturer of worm shafts, and Nylacast, a manufacturer of worm wheels, will collaborate to provide customers with a complete worm gearset solution. Each company’s components are found in millions of today’s vehicles all over the world, primarily in EPS steering columns as well as single and dual-pinion steering systems.
This partnership is expected to provide customers with the option to buy a complete gearset as opposed to making or sourcing the two parts separately. The benefits of this customized product are expected to include more efficient packaging, reduced transportation costs, and higher quality.
As worm drive technologies advance, the companies’ combined knowledge of materials and their behaviours will prove advantageous to customers. Nylacast’s expertise in casting a full range of polymers dovetails perfectly with NN’s capabilities in high-precision milling, grinding, turning, and rolling metals. The two companies already offer premium solutions separately; the synergy between their respective areas of expertise will elevate combined solutions.
“Together, we can offer a higher quality product in a wider range of materials,” said Ed Hekman, VP Business Development, NN, Inc. “The loads on steering systems in electric vehicles (EVs) are often higher because they are heavier than internal combustion engine (ICE) vehicles. NN’s precision machining processes and Nylacast’s polymers allow us to shape high tensile strength materials capable of handling these heavier loads.”
“We are truly excited for this opportunity to work with NN. This collaboration offers our customers a one-stop shop globally,” said Simon Harvey, Managing Director of Nylacast Automotive. “The system operation between the worm wheel and the worm shaft is critical to refined noise-and-vibration-harshness (NVH) solutions. This is especially true as vehicle cabins become even quieter.”
Worm gears, also known as worm drives, have essentially two parts. The “worm” is a type of screw, and the “wheel” is the toothed, circular part that engages with the worm. Together, they form a drive or gearset. These sets target the full spectrum of the automotive market, including on-highway, off-highway, passenger car and off-road segments.
About NN, Inc.
NN, Inc., a 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 30 facilities in North America, Europe, South America, and Asia.
About Nylacast Automotive
Nylacast Automotive division, part of the Nylacast Group, is a world-leading designer and volume producer of high-precision polymer assemblies and components. Nylacast Automotive is headquartered in Leicester, England, with facilities in the UK, China, North America, and Japan.
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For additional information concerning such risk factors and cautionary statements, please see the section titled “Risk Factors” in the Company’s periodic reports filed with the Securities and Exchange Commission, including, but not limited to, the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and the Company’s Quarterly Report on Form 10-Q for the three months ended September 30, 2022. Except as required by law, we undertake no obligation to update or revise any forward-looking statements we make in our press releases, whether as a result of new information, future events or otherwise.