Duro Buys Balson Hercules Apparel Lining Business

Duro Industries, Fall River, Mass., has purchased the apparel lining business from The Balson
Hercules Group Ltd., a wholly owned subsidiary of New York City-based Consoltex (USA). The purchase
includes the Balson Hercules name.The company, now run as a wholly owned subsidiary of Duro, is
called Balson Hercules/Duro Inc. William Milowitz, former senior vice president of apparel and
textile operations, Consoltex, has joined Duro as president of the new subsidiary. John Iason,
former vice president of apparel linings, Consoltex, has also joined Duro.Duro has been greatly
strengthened in recent months with new financing and new business, and we saw this as a very
desirable opportunity to protect and expand our market position, said Andre Laus, president and
CEO, Duro. Its a big win for us. We gain the knowledge and experience of excellent industry people
like William Milowitz and John Iason, as well as business from some of the countrys best names in

September 2001