Ken Peden New Executive VP of Kronotex

Barnwell, S.C., July 24, 2006--Kronotex USA announced the appointment of Ken Peden as executive vice president. Peden joined Kronotex after nearly five years with Quick-Step, where he was most recently vice president of sales and marketing. “Ken’s arrival comes at the perfect time as we re-launch the Formica Flooring brand and tool up for increasing U.S. production and expansion of the various lines of Kronotex floors,” said Norman Voss, Kronotex USA president and CEO. “He comes to us with a proven track record for building brands and selling flooring nationwide, putting together a marketing campaign that made both the trade and consumers sit up and take notice.” Peden was one of the chief architects of Quick-Step’s mercurial growth in the U.S. marketplace from 2001 to 2006. Quick-Step became the leader in the U.S. laminate industry in this time period. "Formica was once one of the top performing brands of laminate flooring in the industry even without being vertically integrated,” Voss said. "In the hands of Kronotex the potential is limitless." Peden said he was excited to join Kronotex at this pivotal time. “I am thrilled at the prospect of helping Kronotex grow into the premier laminate manufacturer in North America,” Peden said. “The company has everything going for it: a new state-of-the-art plant in Barnwell; its parent company’s status as the world’s No. 1 manufacturer of laminate; and the power of the Formica name for its flagship brand.”