Performance Fibers to centralize customer service and executive operations in Luxembourg

Performance Fiber -- July 9, 2007 -- Performance Fibers and Luxembourg’s Ministry of the Economy and Foreign Trade today announced that Performance Fibers will establish a new European shared-services center and executive management headquarters in Luxembourg.

The centralized location will bring together employees from Performance Fibers’ operations in France and Germany involved in executive leadership, customer service, human resources, accounting, finance, purchasing, technology, sales and marketing, and other administrative functions.

“This new European headquarters will enable us to better serve our customers from one central location,” said Alex Carnevale, Performance Fibers’ vice president and managing director, Europe. “Bringing together the support functions for our European operations also will increase operational processes and foster greater collaboration that will result in efficiencies for our customers.”

Initially, about 30 employees will be based at the new offices in the former administrative building of TDK Recording Media in Bascharage, Luxembourg.

These employees will be relocated from company facilities in France and Germany by July 30. Performance Fibers also will hire new employees at the site, with the potential to expand at the location according to the company’s consistent and aggressive growth goals.
“We welcome this decision by Performance Fibers, which has a reputation as a leader in its industry,” said Jeannot Krecké, Luxembourg’s Minister of the Economy and Foreign Trade, following his meeting with Gregory S. Rogowski, President and CEO, at Performance Fibers headquarters in Richmond, Va. “It demonstrates the attractiveness of Luxembourg and the fundamental health of our economy.”

“The sound business environment, vitality of the workforce and stable infrastructure in Luxembourg are key reasons we chose this prime location,” Carnevale said. “Luxembourg is conveniently located to Germany, Belgium and France and close to many of the areas where we are seeking to expand our business. We are open to the possibility of including other functions, such as research and development, if it is economically advantageous.”

Performance Fibers, an affiliate of Sun Capital Partners, Inc., has manufacturing operations in Longlaville, France; Bad Hersfeld, Bobingen and Guben, Germany; as well as in North America and Asia.

About Performance Fibers
Performance Fibers is a leading global supplier of high-tenacity polyester fibers, engineered fabrics, sewing thread fibers and advanced materials. With manufacturing facili¬ties in North America, Asia and Europe, its products are used in a wide range of consumer and industrial applications.

About Sun Capital Partners, Inc.
Sun Capital Partners, Inc. is a leading private investment firm focused on leveraged buyouts, equity, debt, and other investments in market-leading companies that can benefit from its in-house operating professionals and experience. Sun Capital affiliates have invested in and managed more than 155 companies worldwide with combined sales in excess of $35.0 billion since Sun Capital’s inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles, and New York, and affiliates with offices in London, Tokyo, and Shenzhen.

About the Board of Economic Development
The Luxembourg Board of Economic Development, directed by the Minister of the Economy and Foreign Trade, Mr. Jeannot Krecké, coordinates and implements Luxembourg’s economic development and trade promotion policies. HRH Crown Prince Guillaume is Honorary Chairman of the Board.