Promatech S.p.A., Italy, a member of the Itema Group, has agreed with Sulzer Ltd to acquire Sulzer
Textil, subject to approval by the regulatory authorities.The worldwide Sulzer Textile business
will be transferred to Promatech. All employment contracts will be taken over in their present
form.Given the ongoing consolidation process in the industry, this is an important step towards a
successful future with sustainable earnings for the combined companies. The new group will be able
to offer customers a comprehensive product line and a global service network. Sulzer Textil will
continue its business as an operationally independent group. This includes the right to use the
trade name “Sulzer Textil.” The parties agreed not to disclose the transaction price.The
divestiture of Sulzer Textil is part of the focusing strategy of the Sulzer Corporation.Fred
Kindle, CEO, Sulzer Ltd., commented, “I am pleased that Sulzer Textil is being acquired by a
strategically well positioned group. For Sulzer, this is an important step towards completion of
the divestiture program, which will generate CHF 400 million in net proceeds for Sulzer.”Ulrich
Bolleter, president, Sulzer Textil, said, “In view of our strengths in quality, product innovation
and services together with the environment of Promatech and the Itema group, I have full confidence
in the long-term success of Sulzer Textil.”Miro Radici, Chairman, Itema Group, declared, “With the
acquisition of Sulzer Textil, we will gain market leadership in the worldwide weaving machinery
business. The synergy between the main business areas allows the Itema Group to offer its customers
a comprehensive range of innovative products and services to the highest quality standards.”Sulzer
Textil offers the broadest range of weaving machines from rapier to projectile to mutil-phase
technology. Regarding air-jet weaving machines, Sulzer Textil has been collaborating for many years
with Toyoda Automatic Loom Works, Japan. The strengths of Sulzer Textil include its
well-established global sales and service network, innovative products and the high quality of its
customer support and services. Sulzer Textil, with sales of EUR 440 million (CHF 684 million) in
2000, employs around 1850 people in total.Promatech (sales in 2000: EUR million; 750 employees) is
part of the Itema Group, which is active in four market areas: weaving machines, winding machines,
accessories and high-technology electronics. The Itema Group controls the following companies:
Promatech (with the two weaving machine brands Somet and Vamatex), Savio, Fimtextile, Nuova OMV,
Cincla, Actex, Eutron and Saar.

FAST Forward
Verona, Italy, set the stage for hosiery-related seminars, meetings and workshops, as well as
integrated exhibition areas at FAST 2001 

FAST 2001, held earlier this spring in Verona, Italy, reinforced two popular views emerging
in the worlds textile industry. First, the industrys truly specialized exhibitions are destined to
enjoy increasing success in coming years. Second, the real developments in niche sectors will
derive increasingly from synergy established between the various partners: fiber producers;
machinery manufacturers; and those end-users convinced of the value of innovation.FAST 2001, the
Italian hosiery show, in its third incarnation, has once again demonstrated through the power of
concrete numbers the power of its attraction within the Italian hosiery market. FAST has also
consolidated its position within the international trade fair scene, according to Luis Ciocca,
chairman of the fairs organizing committee. Indeed, at the end of last year, an agreement was
reached with the American hosiery manufacturers association [The Hosiery Association], which
organizes the International Hosiery Exhibition (IHE) in Charlotte [N.C.]. According to the terms of
this agreement, the two fairs the Italian one and the American one will be staged alternately at
two-year intervals: IHE in 2003 and FAST in 2005, and so on. This is an excellent result, the fruit
of a collaboration that will continue in the years to come. The result, he said, will contribute to
the development and strengthening of both exhibitions. The third incarnation of FAST attracted
181 exhibitors, 110 of which were from outside Italy. More than 14,000 visitors from 93 countries
attended the fair. Additionally, according to FAST organizers, the caliber of visitors was
particularly encouraging, with 11,400 being either managers or highly qualified technicians. Of
this number, 5,200 were from Italy and 6,200 from other countries. A further breakdown of numbers
revealed there were 2,300 operators from Northern and Western Europe; 1,000 from Eastern Europe,
including Russia; 970 from the United States; and 950 from the Middle East.Visitors had access to a
number of carefully integrated exhibition areas: yarns and accessories; preparation machinery;
circular knitting machines; looping machines; finishing and packaging machines; accessories; and
services. Hosiery In The SpotlightIncluded within the fair was a convention entitled Hosiery
in the Spotlight, an event made up of an opening conference and several specialized workshops. As
part of the event, consumption trends in hosiery were analyzed by ACNielsen Sita, and the results
were presented at two well-attended lectures.Looking at the current market scenario, womens hosiery
is still characterized by a falling trend. Establishing 1997 consumption as the benchmark (equal to
100), consumption of tights, stockings and knee-high hosiery fell to 99 in 1998, 92 in 1999 and 85
in 2000. The market situation, however, seems to have stabilized in 2001, and improvement is
anticipated. For mens hosiery, consumption has increased an average of 2.5 percent annually. An
interesting element is that this increase in demand can be attributed mostly to women, who are
buying more and more mens hosiery made from natural fibers. Short mens socks, long rejected by
Italian customers, are beginning to gain ground on knee-highs.Figures released also show the
evolution of large retail shops. In the womens hosiery sector, chain stores are recording strong
growth levels, and specialist shops are increasing as well. In the mens sector, despite the
prominence of market stallholders (42 percent), modern distribution channels, particularly
hypermarkets, are gaining ground on others.Sid Smith, president of The Hosiery Association (THA),
discussed similarities and differences between the Italian and American markets.Hosiery in the
Spotlight closed with a roundtable meeting entitled Socks: Fetish or Fashion
Accessory First-Time ExhibitorsFashion and the hosiery market were not, however, the only
topics around which FAST 2001 evolved. This year, the Verona-based exhibition welcomed 12 hosiery
manufacturers for the first time: BBF Gambetti; Calzificio Milanese Luigi Ciocca; Calzificio FAP;
Calzificio REA; Calzedonia; CSP International; Franco Bombana; Golden Lady Group; Industria Bustese
Calze; Kayser Roth Corp.; Mura Collant; and VMC (Vignoni). For these companies, the secluded
Business Point area, specifically designed for the purpose, provided a place to meet customers and
established or prospective partners to discuss, compare notes, and develop new relationships and
initiatives. Technical Innovation

As well as providing confirmation of the numbers participating at the event, operators also
had high expectations for the technical developments anticipated to be unveiled at the show. In
particular, visitors were anxious to check out state-of-the-art machinery in seamless hosiery, the
area attracting the most international attention of late. But technological innovations were also
prevalent in other areas, with significant developments emerging in the area of fibers, yarns and
filaments. Among the most important initiatives in this area, have been collaborations between
machinery companies such as Santoni and Matex and fiber companies such as Bayer, Filartex, Filature
Miroglio, Franzoni Filati, Bonazzi Aquafil, Nylstar and others. But the development of fibers,
yarns and filaments was evident in non-Italian companies as well. Of particular note was the
innovative silver fiber, X-Static, of American design, for which successful applications have
recently been found in Italy. Apart from developments in this arena, however, it was the entire
Italian hosiery industry pipeline that dominated the FAST exhibition. This pipeline features raw
materials (polyamides, elastomers, latest-generation man-made polymer fibers, etc.), new yarns, the
exhaustive and sophisticated range of weaving machinery, and leading technologies for special
applications.

July 2001

WASHINGTON, D.C. — ATMI President Charles A. Hayes, Guilford Mills, Inc., expressed the textile
industry’s appreciation to the governors of Alabama, Georgia, North Carolina and South Carolina for
their letter to President George W. Bush urging the Administration to take immediate action to
alleviate the crisis facing the U.S. textile industry. “The governors of our country’s four largest
textile producing states have recognized the clear threat the current textile crisis poses not only
to their own states and constituencies, but to our nation’s economy as a whole,” Hayes said. “We
appreciate their call for President Bush to similarly recognize the urgency of this situation and
to make maximum use of his powers under existing law to confront the problems caused by foreign
unfair trade practices.” “As the governors have noted, President Bush has shown a commendable
willingness to take actions to provide a level playing field for the steel industry. It is now time
for him to similarly step up to the plate on behalf of the American textile industry, which if
anything is facing even more difficult times. Asian currency devaluations have produced a 40
percent average reduction in the cost of textile and apparel imports into the United States. U.S.
companies and workers are being devastated by this contrived advantage that has nothing to do with
Asia’s economic competitiveness.” Hayes said, “The hard-working textile employees in Alabama,
Georgia, North Carolina and South Carolina, as well as throughout the country, are looking to the
President and his Administration to show this same concern for U.S. textile jobs. Our industry
contributes over $70 billion to the national economy, and employs nearly one-half million people.
These individuals need their President to go to bat for them.” “We join the governors of these
states in urging President Bush to make immediate use of all the weapons in his arsenal to fight
unfair trade practices and to prohibit the importation of goods made with child labor. We further
support the governors’ call for the president to instruct his negotiators not to negotiate any new
trade pacts that will lead to more job losses in the U.S. textile industry.”
Click here to
view pdf file of letter

Unifi Inc., Greensboro, N.C., has reached an agreement with Glen Raven Inc., Glen Raven, N.C.,
under which Unifi will assume operating control of Glen Ravens air-jet texturing operations based
in Altamahaw, N.C.The agreement increases Unifis air-jet texturing volume from 2 million to 15
million pounds per year and signals Glen Ravens exit from air-jet textured polyester and nylon yarn
manufacturing.The added manufacturing capacity will allow Unifi to produce a more complete range of
regular and solution-dyed air-jet textured yarns. Unifi will target opportunities in flatwoven
automotive, contract and industrial upholstery, as well as high-end branded knit and woven apparel
markets. The deal also provides Unifi an entryway into the growing polypropylene segment.Its
consistent with our desire to leverage core manufacturing expertise, it enables us to diversify our
fiber range and end-use markets, and it provides immediate access to a broader mix of high-value
products were very excited, said Alf Webster, president, Unifis North American operations.Glen
Raven will continue to market and sell a broad range of spun and package-dyed yarns, including
filament.Unifis premium position as the worlds leading yarn texturer best enhances the opportunity
for this business to reach its full potential, said Bill Bardin, president, Glen Raven Yarn Co.
LLC. We will focus our investments on the development and production of differentiated yarns and
fabrics and the building of successful brands.
July 2001

COLUMBIA, S.C., June 22 /PRNewswire/ — CMI Industries, Inc. announced today that the Company and
the creditors which filed an involuntary bankrupt cypetition against the Company on May 3, 2001,
have filed a joint motion to dismiss the bankruptcy petition. The parties have agreed to use their
best efforts to obtain the entry of a final order granting such relief on or before July 20. In
conjunction with the joint dismissal motion, the parties have also agreed to an interim order
outlining the terms and conditions for the parties to continue working together to develop a
cooperative approach to restructure the Company’s debt structure outside of bankruptcy. Said Joseph
L. Gorga, President of the Company, “The Company continues to express its appreciation to all of
its customers, vendors and associates fortheir continued support over the last few weeks. The
Company, its petitioning bondholders and non-petitioning bondholders are committed to restructure
the Company’s capital structure outside of bankruptcy in a cooperative and time efficient manner. I
believe the framework for achieving this goal is now in place. We continue to have access to
significant borrowing capacity under our secured credit facility with Fleet Capital. The Company
expects to continue operating in the ordinary course and today’s announcement will enable the
Company to aggressively move forward with its strategic initiatives to growits Elastics Division.”
Said Daniel J. Arbess of Triton Partners (Restructuring) which i was assisting the petitioning
creditors, “The agreement creates the basis for an orderly restructuring of CMI’s capital structure
for the benefit of the creditors and other relevant stakeholders. We are now looking forward to
moving ahead to achieve an acceptable restructuring as quickly as possible and without disruption
of the Company’s commercial operations.” CMI Industries, Inc., and its subsidiaries manufacture
textile products that serve a variety of markets, including the home furnishings, wovenapparel,
elasticized knit apparel and industrial/medical markets.Headquartered in Columbia, South Carolina,
the Company operates manufacturing facilities in Clarkesville, Georgia; Clinton, South Carolina;
Greensboro,North Carolina; and Stuart, Virginia. The Company had net sales from continuing
operations of $194.7 million in 2000. This press release contains statements that are
forward-looking statements within the meaning of applicable federal securities laws and are based
upon the Company’s current expectations and assumptions, which are subject to a number of risks and
uncertainties that could cause actual results to differ materially from those anticipated. Such
risks and uncertainties include,among other things, global economic activity, the success of the
Company’soverall business strategy, the Company’s relationships with its principal customers and
suppliers, the demand for textile products, the cost and availability of raw materials and labor,
the level of the Company’s indebtedness and the exposure to interest rate fluctuations,
governmental legislation and regulatory changes, and the long-term implications of regional trade
blocs and the effect of quota phase-out and lowering of tariffs under the WTO trade regime,
restrictions on the Company’s business and operations imposed by the Company’s lenders and the
court processes, and the Company’sability to operate under current industry conditions.SOURCE CMI
Industries, Inc.Copyright 2001 PR Newswire

SPARTANBURG, S.C., May 31 /PR Newswire/ — Synalloy Corporation (Nasdaq: SYNC), a producer of
specialty chemicals,dyes and pigments, stainless steel pipe, vessels and process
equipment,announces that is has signed an agreement to acquire the business and certain assets of
Global Chemical Solutions, Inc. Global, which is located in Dalton,Georgia, supplies dyes and
chemicals to carpet and rug manufacturers primarily in the Dalton area. The acquired business will
relocate to a facility in Dalton that will have warehousing, laboratory, dry blending, sales and
administrative functions. Manufacturing will be performed at Manufacturers Chemical, L.P., in
Cleveland, Tennessee, a subsidiary of the Company. This arrangement will position Global to provide
its customers with more extensive manufacturing capabilities and products while maintaining its
loca lwarehousing and technical services. The acquisition is expected to close inmid July. For more
information about Synalloy Corporation, please visit our web siteat http://www.synalloy.com.SOURCE
Synalloy Corporation Copyright 2001 PR Newswire