press releaseS

NILIT of ISRAEL ACQUIRES
TORCIDOS IBERICOS in CATALUNYA

May 7, 2006 – Migdal Haemek, Israel - Nilit, a global leader in the production of nylon 6.6, based in Israel, has announced that it has acquired the texturing facility of Torcidos Ibericos in Puig-Reig (near Barcelona).

The primary goal of the acquisition will be to serve Nilit’s European customers, but the operation will also support Nilit’s acitivities throughout the world. The new Company will be called: Nilit Iberica.

Nilit’s decision to invest in texturing in Europe places Nilit at the forefront of the World’s specialty yarn manufacturers. The deal will significantly increase Nilit’s texturing capacity and will provide customers with the usual high quality and custom-made solutions they are accustomed to from Nilit.

Nilit has been very pleased with the warm welcome and encouragement it has received from everyone in Catalunya, from labor, from the government of Catalunya and from the textile industry in Catalunya. The industry has suffered over the past few years and Nilit hopes that the demonstration of its confidence will make some small contribution to the resurgence of apparel manufacturing in Catalunya. “Nilit prides itself on its commitment to its employees and its customers and looks forward to working with both groups in developing the business at Puig-Reig,” Arie Gottlieb, General Manager of NILIT added.

About Nilit:
NILIT is an integrated nylon business engaged worldwide in fibers for the textile industry and engineering plastics for the automotive and electrical industries. NILIT is known for its innovation and tailored solutions for customers in the industries served. Nilit markets its products under the trademarks SENSIL® specialty fibers, NILAMID® engineering compounds and POLYNIL® polymers.

Nilit recently acquired the INVISTA nylon apparel business in Europe, including the nylon apparel facility in Oestringen, Germany. In addition, Nilit was granted an exclusive license for the trademarks TACTEL® fiber, CORDURA® fabric and SUPPLEX® fabric in Europe, the Middle East and Africa.