Last checked at 4 Dec 2018 07:00
4 December 2018
Coats Group plc
Strategic investment
Coats Group plc ('Coats' or the 'Company'), the world's leading industrial thread manufacturer, today announces it has become a strategic investor in Twine Solutions, an Israeli based technology start-up that has developed a revolutionary digital thread dyeing system.
Coats is investing $5m for a 9.5% share in the company and a seat on the Board.
Twine has created a proprietary digital thread dyeing system which combines the features of small-scale digital printing with the traditional dyeing process and enables thread to be produced, on demand, to any colour and length.
Rajiv Sharma, Group Chief Executive, said: 'This is an exciting and innovative strategic move. We are investing in future technology which will improve our industry and its sustainability by directly addressing the key needs of our customers: speed, innovation and sustainability. The disruptive technology has the potential to revolutionise the thread industry and Coats will work closely with Twine to commercialise this opportunity.'
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Enquiry details
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Investors | Rob Mann | Coats Group plc | +44 (0)20 8210 5175 |
Media | Richard Mountain / Nick Hasell | FTI Consulting | +44 (0)20 3727 1374 |
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About Coats Group plc
Coats is the world's leading industrial thread manufacturer and a major player in the Americas textile crafts market. At home in some 50 countries, Coats employs 19,000 people across six continents. Revenues in 2017 were US$1.5bn. Coats' pioneering history and innovative culture ensure the company continues to lead the way around the world, providing complementary and value added products and services to the apparel and footwear industries; applying innovative techniques to develop high technology Performance Materials threads and yarns in areas such as automotive composites and fibre optics; and extending the crafts offer into new markets and online. Headquartered in the UK, Coats is a FTSE 250 listed company on the London Stock Exchange. To find out more about Coats visit www.coats.com.