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NN Inc. completes $615 million acquisition of Precision Engineered Products

Johnson City -- NN Incorporated has completed its purchase of Precision Engineered Products. The Johnson City-headquartered manufacturer announced it would buy the company in August, at a cost of $615 million. Here is a copy of the full release: NN, Inc. Completes Acquisition Of Precision Engineered Products JOHNSON CITY, Tenn., Oct. 20, 2015 /PRNewswire/ -- NN, Inc., (NASDAQ: NNBR) a diversified industrial ...

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Coal slowdown leads to Erwin operations shutdown: CSX

CSX will close a locomotive service center, a project shop and a car shop -- and eliminate switching operations -- at its Erwin rail yard, the company announced today (see below). The decision is expected to eliminate around 300 jobs in one of the industries that helped establish the town. The company cited a combination of regulatory restrictions on coal and lower natural gas prices as the proximate causes ...

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Leapin’ lizard: Crown Laboratories revenue jumping

By Jeff Keeling Crown Laboratories is on a roll. The Johnson City-based pharmaceutical manufacturer, best known for its Blue Lizard sunscreen, secured a $20 million credit facility last month that has CEO Jeff Bedard bullish on the future of a company that’s seen its peaks and valleys since its founding 15 years ago. Blue Lizard’s revenues are growing strongly, up 24 percent in the current fiscal year, whic ...

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TCRA projects offer short- and long-term benefits

The Business Journal Q&A Patrick Wilson, Executive Director, Tri-Cities Regional Airport   When one goes to an airport, one’s mind is generally on the skies. Tri-Cities Regional Airport officials, however, have had their minds very much down to earth for the last several months, a trend that will continue for many more months to come. The airport is moving a lot of dirt these days, in two separate ...

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Start me up: Roadside assistance call center tripling in size

By Jeff Keeling  Anthony Royer walked past rows of cubicles at the Borla Enterprises building south of Johnson City, where head-setted employees talked quietly with stranded motorists, technicians, tow operators and other players in the world of roadside assistance. Workers looked up and gave him quick smiles before hunkering back down to the momentary task at hand, and eventually Royer – the CEO of Allied ...

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Buy Local: It applies to the IT suite too

By now you must be familiar with the “Buy Local” campaign. It started with food and has more recently (at least in this area) branched out to craft beer. But there’s a segment of the marketplace that makes just as much sense to buy local that would surprise many consumers: information technology. Chase Boles, co-owner of Bailey Computing Technologies in Gray has watched the local IT scene grow in depth and ...

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Business should back the gas tax

It’s not set in stone yet that the Tennessee State Legislature will be asked to approve a hike in the gasoline tax in the coming year, but it should be. While we see most taxes as generally detrimental to business, the Tennessee gas tax is actually in need of being raised or replaced with something more effective for the betterment of business in the volunteer state. And despite the fact that toll roads are ...

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Time for some capital flight – from local governments to the airport

By Jeff Keeling His bosses on the Johnson City Commission were discussing potential shared economic development projects with Washington County, TN last month when City Manager Pete Peterson broadened the scope of the regionalism discussion. The five commissioners, mulling the possibility of an interlocal agreement with Washington County, had mentioned incentivizing retail development in Boones Creek, or po ...

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