Sultex Ltd Changes Name

Switzerland-based Sultex Ltd. – a manufacturer of weaving machinery and member of the Italy-based
Itema Group – has changed its name to Itema (Switzerland) Ltd. and will move its headquarters from
Ruti to Wetzikon during the second quarter. The changes are part of structural moves at Itema to
merge Promatech, Sultex, Itema Weaving Machinery (China) and First S.p.A. into one streamlined
company with a single headquarters location sharing management, marketing, sales and service
functions with an integrated data system and supply chain. The consolidation was previously
announced during ITMA Asia + CITME 2008 in Shanghai.

Itema (Switzerland) Ltd.’s Sulzer Textil™ L5500 air-jet weaving machine

Merged and updated company websites are scheduled to go live sometime during the second
quarter of 2009. While all Sultex e-mail addresses will remain functional until mid-2009, new
addresses will replace them in the format of

In related news, Itema Group will change the name of Promatech to Itema (Italy) S.p.A. once
all formalities have been finalized.

January/February/March 2009