DAVID CORBIN TAKES ON TOP EXECUTIVE ROLE AT AMERICAN SILK MILLS AS DOUTHIT RETIRES

HIGH POINT, NC, February 5, 2019 – David R. Corbin has joined American Silk Mills (ASM/Company) as Chief Executive Officer (CEO). He assumes responsibilities previously held by Cynthia Clark Douthit prior to her retirement. Douthit will consult with the Company in areas of design and product development.

Corbin is an accomplished, entrepreneurial business leader with experience across the home furnishings industry. Prior to joining ASM, Corbin held positions as President and CEO at Real Home Furniture by Oak West, a leading manufacturer of youth and home entertainment furniture; Chief Operations Officer (COO) at Steve Silver Company, a leader in casual dining, upholstery and occasional furniture; President of Southerland, Inc., a leading independent bedding company; COO/Senior Vice President at Chromcraft Revington, a furniture and upholstery company manufacturing product lines that include Chromcraft, Peters Revington and Cochrane; and, Chief Marketing Officer (CMO)/Vice President of Marketing at Home Meridian International, a furniture company developing and marketing a portfolio of branded product lines that include: Antiques Roadshow, Build-A-Bear Workshop Home, Keepsakes, Pulaski and Samuel Lawrence.

Under his direction, Corbin will focus the Company around building the ASM brand among current and prospective customers as well as improving operations through continuous improvement and innovation. Future plans for the Company also include expanding its business through strategic acquisition.

“We appreciate Cynthia and her tireless dedication to developing the reputation for design leadership and quality American Silk Mills enjoys today,” said Updeep Singh, Deputy CEO at Sutlej Textiles and Industries Limited (Sutlej), American Silk Mills’ parent company. “For nearly two decades, Cynthia has graciously contributed both her knowledge of the industry and her reputation for design creativity.”

“At the same time, we are pleased to welcome David to our executive team,” Singh added. “We have great respect for his strategic leadership and unique level of executive management and marketing experience, and we welcome his vision for the growth and development of our business and portfolio of products. We are confident that his entrepreneurial management style and product development expertise will position ASM to best meet current and future demand for its high quality textiles, product innovation and business opportunities.”

“I am very happy to join the ASM team,” said Corbin, “and I look forward to contributing to the Company’s growth through continuous improvement of operations and customer service, new product development and innovation, and through strategic acquisitions. He added, “the synergies between ASM and Sutlej offer infinite opportunity for alignment across the Company that will expand the resources of the Company and benefit our North American customers. I’m excited to begin working with the team to identify these synergies and optimizing them to their full potential.”

Sutlej Textiles and Industries Limited is the flagship textiles company of the KK Birla Group headquartered in India. It is a leading textile solutions provider, producing a range of products including spun yarns, fabrics for home furnishings, contract drapery and upholstery. Sutlej currently serves a global clientele with its presence in major developed and emerging markets across more than 65 countries. The ASM parent company is an internationally-recognized industry leader in the use of state-of-the-art technology and implementation of eco-friendly and sustainable manufacturing practices and processing.

American Silk Mills was acquired by Sutlej Textiles and Industries Limited in November 2017. ASM was founded in 1896 and remains among the oldest and most established of the American textile brands. The Company specializes in designing, weaving and distributing innovative textiles to customers across residential, contract, transportation and specialty markets. ASM products include indoor/outdoor performance fabrics, fine jacquard textiles, high quality silks, a variety of luxurious velvets and Sensuede®, an eco-friendly synthetic suede.