[PRNewswire] Standard Textile and Kucukcalık Announce Joint Venture to

Accelerate Growth in Markets

(CINCINNATI, June 24, 2021 PRNewswire=연합뉴스) Standard Textile Co., Inc. and Kucukcalık today announce they have entered into a joint venture agreement. The joint venture agreement brings together the specialized expertise and knowledge of two leading textile manufacturing companies to expand their product portfolio and accelerate growth in the healthcare, hospitality, and consumer markets.

Kucukcalık is a premier global textile manufacturing company with key operations in Turkey and Egypt. From fiber production to weaving to finishing, the company produces apparel, bedding, drapery, and other decorative products for the consumer market. The company opened its first weaving mill in 1990 and added dyeing and printing factories in 1992. In 2019, Kucukcalık created a new sustainable yarn from discarded PET bottles using advanced spinning technology. The company is listed among the top 500 companies in the Turkish industrial sector.

"We are pleased to announce this new joint venture for Standard Textile," stated Gary Heiman, President and Chief Executive Officer of Standard Textile. "We have admired Kucukcalık's world class facilities in Turkey and Egypt, and this joint venture allows us to both expand our global footprint and leverage their technology and expertise in fiber extrusion. Their innovative fiber extrusion and texturizing operations provide new opportunities for our research and development teams to collaborate in designing and developing sustainable products using recycled fiber to meet the needs of current and future customers."

Standard Textile manufactures bed, bath, and decorative products, serving the healthcare, hospitality, and consumer markets. It has manufacturing operations in North America, Europe, Asia, and the Middle East. The company received recognition in 2016 for creating a model for advanced textile manufacturing in the United States with their operations in Thomaston, Georgia and Union, South Carolina headlined in major news publications.

Earlier this year, Standard Textile was credited with the "Best Health Care and Medical Innovation" by Ohio Business Magazine for developing a uniquely American-made reusable cover gown to help protect frontline medical workers responding to the global pandemic; and most recently, the company was selected as a 2021 US Best Managed Company. Sponsored by Deloitte Private and The Wall Street Journal, the program recognizes outstanding U.S. private companies and the achievements of their management teams.

"We are very happy to be able to continue our long-lasting friendship and existing trading relationship with Standard Textile now as co-shareholders. We are confident that this partnership will add significant value to Kucukcalık by allowing us to expand in markets where Standard Textile is particularly strong," said Yasar and Yılmaz Kucukcalık, the shareholders of Kucukcalık.

About Standard Textile

Founded in 1940, Standard Textile has developed a culture of innovation, quality, and service. With more than 80 patents, its products are engineered to deliver durability, longevity, and value. A vertically integrated company, Standard Textile is a leading global provider of total solutions in the institutional textiles and apparel markets. Leveraging textile design, manufacturing, and laundry expertise, and its global infrastructure, this company serves customers in the healthcare, hospitality, interiors, workwear, and consumer markets worldwide. For more information visit standardtextile.com.

About Kucukcalık

Founded as a trading company in 1940, Kucukcalık opened its first weaving mill in 1990. Kucukcalık is known for its innovative and high fashion products for the apparel and home textile markets and is also the first company to have received ISO 9001 and ISO 14000 certification in the embroidery sector in Turkey. Kucukcalık caters to a wide range of customers such as fabric editors, design studios, converters, wholesalers and retailers, including specialty stores, department stores, and well-known retailers with global coverage. For more information visit kucukcalik.com.tr.

Contact:

Judy Sroufe

Vice President, Brand Marketing and Communications

Standard Textile

jsroufe@standardtextile.com

(513) 761-9256, ext. 2243

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www.standardtextile.com

Source: Standard Textile

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