PermaShrink To Open Manufacturing Plant In Clover, S.C.

The PermaShrink Company Inc. — a Charlotte-based provider of products and services to customers
involved in textile fabric preshrinking, or sanforizing — will invest $3.3 million to establish a
facility to manufacture SanforSet® rubber shrinking belts in Clover, S.C., with the expectation of
creating 16 jobs.

The company will sell the SanforSet belts to some 2,000 customers in 82 countries on six
continents. Some 95 percent of the production is slated for export.

PermaShrink will establish the plant in a building provided by the York County Natural Gas
Authority and located in Clover’s Westgate Industrial Park.

“We are very excited about bringing this new manufacturing plant online,” said Christopher
D. Clickner, vice president, PermaShrink. “This will be the most technologically advanced plant of
its type in the world.”

“PermaShrink will be a tremendous asset to the Clover area. The partnership this company
formed with the York County Natural Gas Authority is a model for corporate cooperation,” said Buddy
Motz, chairman, York County Council. “The fact that this company exports most of their products to
emerging markets will add further value to the local and U.S. economy. We welcome the company and
new jobs they bring to western York County.”

December 28, 2010