TSG Exits Bankruptcy

WALES, Pa. — May 5, 2011 — TSG Holding Company, Inc. (formerly known as TSG Incorporated) announced
its exit from bankruptcy court protection effective May 1, 2011 under a Plan of Reorganization
approved overwhelmingly by the Company’s creditors and the United States Bankruptcy Court for the
Eastern District of Pennsylvania. Under the terms of its Plan of Reorganization and with the
support of its lender, the Company restructured all of its long-term obligations, while offering a
significant return to its unsecured creditors. “We are thrilled to have exited bankruptcy court
protection with such tremendous employee, customer and creditor support,” said Jeffrey S. Goldman,
President and Chief Operating Officer. “With the restructuring completed, our organization looks
forward to attending to our customers’ needs with outstanding and sophisticated service, while
continuing with the development of new and cutting-edge technologies as we have for the past 110

The Bankruptcy Court confirmed the Company’s Plan of Reorganization on April 12, 2011, which
became effective on May 1, 2011. Under the Plan of Reorganization, the Synthetics Finishing, SynFin
Industries, Combeau Industries and Longview Machinery plants will continue their operations
uninterrupted under TSG Finishing, LLC.

Posted on May 6, 2011

Source: TSG Finishing LLC