Spinrite To Establish Facility In Washington, N.C.

Canada-based craft yarns manufacturer Spinrite LP has announced it will invest $9.1 million to
establish a manufacturing facility in Washington, N.C., and add 90 jobs.

Last year, Spinrite acquired certain assets of handknitting and crocheting yarn and
equipment supplier Caron International, including a facility in Washington, from National Spinning
Co. Inc. (See ”
Spinning Sells Caron International To Spinrite
,” TextileWorld.com, Dec. 6, 2011). Employees who
lost their jobs following that acquisition will be able to apply for new positions with Spinrite.

“We are very excited about our new opportunity in North Carolina,” said Ryan Newell,
president, Spinrite LP. “The talented workforce in Beaufort County will provide an excellent
foundation for further expansion and growth of our business.”

The project was facilitated in part by a $180,000 grant from the One North Carolina Fund.

March/April 2012