TSG Consolidates Plant Operations

North Wales, Pa.-based commission fabric finisher TSG Finishing LLC has begun consolidating
operations in an effort to improve its commission finishing operations. The company will close its
Synfin Industries plant in North Wales and move production to its four plants in North Carolina,
which comprise Synthetics Finishing, Longview Machinery and Combeau Industries. According to TSG,
the consolidation, which it expects to complete by the end of the summer, will not impact its
customers. The company’s headquarters will remain in North Wales.

“The consolidation will coordinate efforts within our organization and ensure that we meet
our customer demands at the highest level of efficiency and flexibility to which our customers have
become accustomed over the years,” said Jeffrey S. Goldman, president and COO, TSG. “This
consolidation will also allow us to utilize our significant assets and technology over a broader
customer base and serve a wider variety of industries more efficiently because our plants will be
located in closer geographic proximity to one another.” 

TSG Finishing has been in business for 111 years and is owned by the fourth and fifth
generations of the family that started the company in Baltimore.

March 13, 2012