1. 1 SUPPLY CHAIN = INTEGRATED CHAIN

2. 2 OVERVIEW OF OTHER INVESTMENT GOODS ALONG THE TEXTILE VALUE CHAIN Source:ITMA Preparation mcs for worsted spinning Preparation mcs for cotton spinning Mcs for producing man-made filaments Texturing mcs Spinning mcs Transport systems for spinning mills Doubling and twisting mcs Bobbin winding mcs Circular knitting mcs Flat knitting and warp knitting mcs Warping mcs Sizing / slashing mcs Drawing-in mcs Warp-typing mcs Batching motions Cleaning installations Air-conditioning systems Air compressors Reed cleaning mcs Transport systems for weaving mills Monitoring system Fabric inspection mcs and equipment Printing mcs Other finishing mcs Sewing mcs Cloth laying and unrolling mcs Steaming mcs FibersSpinning Non-woven Non-woven mcs Knitting Weaving preparation Weaving Weaving room equipment Finishing Making-up

3. 3 TEXTILE VALUE CHAIN Source:STT; McKinsey; Team analysis Long throughout times of textile value chain lead to high costs 17% of total value is related to inventories 5-13% of total value is lost due to markdowns and stock-outs Yarn ex factory Woven fabric ex factory Shirt ex factory (cut, sewn, packed) Wave housing and transport Retail Total value 12 2 20 100 2 5-13 83 17 11 41 18.5 1.5 11.5 0.1 Throughout times (days) 1545706036070100 Theoretical minimal cycletime (days) 0.5 11.9 0.5 Ware housing and transport Value, index: 100 = average retail price Inventories

4. 4 25% 41% 9% Europe N. Amer. Asia R.O.W. Top 12 PICANOL Shipments 1China803 2Mexico629 3Korea465 4USA439 5Germany258 6Brazil231 7France183 8Italy161 9Spain157 10Taiwan146 11Turkey125 12Mauritius84 1999

5. 5 RegionFirmsPersonnel Piemonte1.30028.000 Lombardia10.055104.043 Emilia Rom2.05412.692 Toscana9.00250.210 Marche1472.485 Abruzzi1.15015.700 Lazio1261.500 Puglia2482.408

6. 6

7. 7 MANUFACTURING SALES SERVICE ORGANISATION UK PROFERRO GEREEDSHAPS- MAKERIJ MELOTTE LCMC PROTRONIC PST CHINA PICANOL CHINA PICANOL JAPAN PICANOL KOREA PICANOL AMERICA INDONESIA BRASIL EUROPE 30 AGENTS ASIA 20 AGENTS AFRICA 12 AGENTS AMERICAS 16 AGENTS OCEANIA 2 AGENTS Belgium PICANOL WORLDWIDE PICANOL TURKEY GÜNNE BEREMCO