National Spinning Sells Caron International To Spinrite

National Spinning Co. Inc., Washington, N.C., has sold certain assets of Caron International —
including handknitting and crocheting yarns, latch hook kits and the Ultimate Sweater Machine — to
Canada-based Spinrite LP — manufacturer of craft yarns including Patons®, Lily® Sugar’n Cream and

“The combination of two such exceptional product lines will ensure the future success of the
Caron products our customers rely on for quality and value,” said James W. Chesnutt, president and
CEO, National Spinning Co. “The Simply Soft and One Pound brands are staple products in the
hand-knitting and craft markets and will be outstanding additions to the extensive line of
Spinrite’s branded products.”

The Hampton Art division, formerly part of Caron International, remains with National
Spinning and will have a workforce of some 40 associates. That division manufactures and sources
scrapbooking materials that are sold to major retailers worldwide.

December 6, 2011