Spectrum To Open Plant In Marion, NC, Create 49 Jobs

Spectrum Mills LLC has announced it will invest $2.7 million over the next three years to open a
specialty yarn manufacturing plant in Marion, N.C., creating 49 jobs in the process. A private
investor purchased the company, formerly Spectrum Dyeing and Finishing, out of bankruptcy and plans
to consolidate two shuttered facilities into one operation. Spectrum Mills will manufacture
textured and colored polyester yarns for use in wholesale and retail applications including sewing,
needlework and piece goods. The investment was funded in part by the One North Carolina Fund.

“Spectrum Mills is excited about the opportunity to locate our manufacturing operation in
North Carolina,” said Chongchul Kim, president, Spectrum Mills. “North Carolina’s solid history of
being a textile state, with higher education and research devoted to the textile industry,
validated our decision to locate here. A high-quality workforce, competitive utility rates and
friendly state and local governments were also critical factors that attracted us to the state of
North Carolina.”

The company reports salaries will differ depending on job function, but the average annual
wage for new employees will be $33,286, not including benefits.

April 27, 2010