GTP Greenville Acquires Southern Loom Reed

Greenville-based textile weaving machine accessory manufacturer GTP Greenville Inc. has acquired
the assets of Gaffney, S.C.-based Southern Loom Reed Co., a manufacturer of reeds and warp
preparation equipment. Southern Loom Reed’s manufacturing operation and sales staff have relocated
to GTP Greenville’s main office and plant. Henceforth, GTP Greenville — which was formed after its
Belgium-based parent company, Picanol, acquired Steel Heddle Manufacturing Co. in late 2001 — will
offer Southern Loom Reed’s product lines under the Steel Heddle name.

October 2, 2007