IRO To Acquire Te Strake Textile Weft Feeder Assets

The Sweden-based IRO Group has reached an agreement with the Belgium-based Picanol Group whereby
IRO will acquire the assets and activities related to Picanol subsidiary Te Strake Textile BV’s
weft feeder business. The acquisition will enable IRO to consolidate its yarn-feeding expertise and
expand its market to include glass weaving and technical textile areas, among others.

While IRO henceforth will supply feeders, spare parts and service to Te Strake’s customers,
Te Strake will continue to offer weft-insertion-related products including main and relay nozzles.

October 2005