Picanol Streamlines Organizational Structure

The Picanol Group, Belgium, has restructured its organization around two core divisions and has
integrated former Global Textile Partner (GTP) activities into these divisions.

The Technologies division comprises Proferro and BUMAC casting and mechanical production
activities; Mechatronics; and GTP Accessories including frames, heddles, reeds and insertion
technology. It supplies parts and system solutions to original equipment manufacturers.

The Weaving Machines and Services division comprises air-jet and rapier, which develops and
produces weaving machines; weaving machines customer relation teams, which handle machinery sales;
and after-market sales and support, which provide additional products and services.

March 1, 2005