Swift Spinning Mills Reorganizes Resources

Swift Spinning Mills Reorganizes Resources Swift Spinning-Tifton Inc., the Tifton, Ga., operation
of Columbus, Ga.-based Swift Spinning Mills Inc. will close its doors on March 29, 2001. Officials
noted that they will make every effort to sell the operation as an ongoing concern. The decision
was made to close the plant after it was decided that the best way to utilize the companys existing
resources to meet customer needs was to consolidate operating units back into Swift Spinnings
Columbus operations.Shiro Kobayashi, chairman and CEO, said, Our intentions are to find a buyer for
the operation, and hopefully the new owner will maintain the current workforce. In the event we are
unable to sell the plant, we will make every effort to help these people as they transition into
other jobs in the Tifton area. We find it necessary to make this move in an effort to improve our
competitive position in the textile industry.Approximately 110 people will be impacted by the
plants closure.
March 2001