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Nasmyth Group Announces North American Headquarters

June 21, 2007

Gov. Mark Sanford and Sec. Joe Taylor today joined Peter Smith, Chairman and Chief Executive of the U.K.'s Nasmyth Group in announcing the company's decision to locate its North American headquarters and a major manufacturing operation in Newberry County, South Carolina. "South Carolina is a great fit for Nasmyth. The state is economically viable with a strong labor force, proximity and access to markets, and a business-friendly environment. South Carolina suits our culture, style, and approach to business and we look forward to growing Nasmyth's U.S. operations from our South Carolina location for many years to come," said Peter Smith, Chairman and Chief Executive, Nasmyth Group.

The Nasmyth Group is a tier one supplier to the aerospace industry serving globally recognized corporations such as Rolls Royce, Airbus, Raytheon, and Boeing. Nasmyth plans to invest $15 million and create approximately 100 jobs at its South Carolina facility. Today's announcement was made at the Paris Air Show where Gov. Sanford and Sec. Taylor are meeting with aerospace industry leaders and working to recruit future investment to South Carolina. The South Carolina delegation led by Gov. Sanford is one of many at the air show being led by Southern governors, including Governors Sonny Perdue of Georgia, Bob Riley of Alabama, and Haley Barbour of Mississippi.

"Today's announcement is another sign that our efforts to better our state's business climate are working to recruit industries that will have a lasting impact on our economy and further our ability to compete in the global marketplace. As well, given South Carolina's strong ties to the aerospace industry, Nasmyth adds to a growing list of companies that are active in the future of commercial and military aviation, and offers real potential in terms of job creation, investment, and growth opportunities in the years ahead," said Gov. Mark Sanford.

South Carolina is home to some 40 aviation companies investing more than $1 billion in the state. As the aviation industry grows, South Carolina has emerged as a globally recognized player. The state's role is enhanced by numerous companies that are shaping the aerospace industry including Vought, Alenia North America, Lockheed-Martin, Honeywell, General Electric, SKF Bearings, ATI-Allvac, and Michelin Aircraft Tires.

"We are delighted to welcome Nasmyth Group to Newberry County," said County Council Chairman Henry Summer. "In addition to the significant international investment in the community and creation of high-skilled jobs, Nasmyth's North American headquarters is the first commitment in the Mid-Carolina Commerce Park. Today's announcement reaffirms Newberry County's dynamic, pro-business environment and we look forward to supporting Nasmyth's growth and prosperity."

Central S.C. Alliance Chairman George Bullwinkel, Jr. said, "The Nasmyth Group is a highly respected global leader in precision engineering for the aerospace industry. They will find Newberry County, S.C. and the Central S.C. Region a great place for their North American headquarters and manufacturing operations. Central S.C.'s strong work ethic coupled with the nation's premier training program offers the Nasmyth Group a winning combination that will exceed the expectations of their customers."

Nasmyth Group offers world class design, manufacturing assembly, and product support service across the fields of precision mechanical and electro-mechanical engineering. Nasmyth Group is a key supplier to the global aerospace industry and to international defense, electrical, specialist automotive, and medical sectors. In support of this capability the Group's companies hold an impressive range of quality, environmental, and manufacturing approvals ranging from AS9100 and ISO 14001 through to EASA Part 21 and FAA. Based in Buckinghamshire, England, the company was founded by Peter Smith in 2003. The company's name demonstrates a tradition of engineering excellence, named after James Hall Nasmyth, a Scottish engineer famous for developing and patenting the steam hammer. Nasmyth built his first steam engine at the age of 17 in 1820. For more information on the Nasmyth Group, visit www.nasmythgroup.com.

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