PERFORMANCE FIBERS TO BUILD SECOND PLANT IN KAIPING, CHINA

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PERFORMANCE FIBERS TO BUILD SECOND PLANT IN KAIPING, CHINA
07 March 2005 - Performance Fibers

Performance Fibers, a leading global supplier of industrial fibres, will build a second polyester fibre and fabric plant in Kaiping to meet demand from China's growing automotive market.

The new plant will again double the company's dimensionally stable polyester capacity in China, where it is the industry leader. This is the company's second expansion at the Kaiping facility in two years, having doubled capacity of the original plant with the addition of new production lines in early 2005.

The new plant, which will be located on the same site of the existing plant in Kaiping (Guandong Province), will produce and convert the latest generations of dimensionally stable polyester fibres for tire reinforcement, automotive, and other industrial and consumer uses. The company markets these fibres under the trade name DSP fibres.

'Construction is expected to be complete by the first quarter of 2006. Additional expansions are planned which will again double our DSP fibre and fabric capacity in China by 2008', said Greg Rogowski, President and Chief Executive Officer of Performance Fibers. 'This second expansion in two years demonstrates our commitment to supply dimensionally stable polyester to our customers worldwide. Our global footprint, combined with our leading technology and cutting-edge products, has positioned us to meet the needs of our customers and their markets wherever they are located around the world.'

'Performance Fibers has established itself as the leader in China for high modulus, low shrinkage (HMLS) polyester,' said Scott King, Managing Director of Sun Capital Partners, Inc., an affiliate of Performance Fibers' new owner. 'We continue to see enormous growth potential in the marketplace and Performance Fibers is moving aggressively to meet that demand.'

Performance Fibers was the first supplier of HMLS polyester products to enter China more than a decade ago in 1993.

'In addition to the China expansion, Performance Fibers is continuing to look at customer needs in other regions of the world and is prepared to invest where necessary to meet these needs,' Rogowski said. 'The company is the only industrial polyester supplier with manufacturing facilities in Asia, Europe and North America.'

http://www.performancefibers.com

About: Performance Fibers
Performance Fibers, Inc., a subsidiary of Performance Fibers Enterprises, Inc., is one of the world's leading suppliers of high-tenacity polyester and a global manufacturer of other man-made industrial fibres, including PEN, Securus fibre and Beltec fibre for a wide range of consumer, industrial and military applications.

Formerly Honeywell Performance Fibers, the company was a business unit of Honeywell International, Inc. The company was bought on December 22, 2004 by Performance Fibers Enterprises, Inc., an affiliate of Sun Capital Partners, Inc. Before Honeywell, the company was known as AlliedSignal Performance Fibers. AlliedSignal and Honeywell closed a merger on December 1, 1999.

Headquartered in Colonial Heights, Virginia, USA, Performance Fibers, Inc. operates commercial and manufacturing facilities in New Hill, North Carolina, Longlaville, France, Seoul, Korea, and Kaiping, China.

Performance Fibers, Inc. formed an Asian performance fibres company with three South Korean fibre producers in December 1998. The company markets high-tenacity fibres by all four partners in South East Asia. Each company owns and operates their own facilities while Performance Fibers, Inc. provides the technology to expand its product offerings.

Products are used in thousands of applications ranging from tires, seat belts, webbings and broadwoven fabrics to luggage, sailcloth, and ropes for offshore mooring.

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