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Tuesday, June 23, 2015

Coats Industrial Thread Company Honored Today

Coats Group plc, the world’s leading industrial thread and consumer textile crafts business, has opened the day’s trading on the Main Market of the London Stock Exchange.  Today’s London Stock Exchange Market Open Ceremony celebrates Coats’ return to the market in the 125th anniversary year of its initial listing on the London Stock Exchange. 

The ceremony was attended by Chairman, Mike Clasper; Group Chief Executive Paul Forman and other members of the Coats Board, management, employees and advisers.  

Mike Clasper, Chairman, Coats Group plc, said: ‘Coats is a world class manufacturing business with a rich heritage that dates back to the 1750s.  The business has successfully reinvented itself over the last decade in order to meet the changing needs of our customers and consumer demand.  Returning to the market under our own name during the 125th anniversary year of our initial listing on the London Stock Exchange is worthy of celebration and participating in today’s Market Open Ceremony is a wonderful way to do that.’

After first listing in 1890, and also being a founding member of the FT30 index created in 1935, Coats was taken private in 2003.  In February 2015, GPG Group plc, Coat’s owner, released its preliminary financial results for 2014 which included the announcement that Coats was being established as the standalone, listed entity.

With a rich heritage dating back to the 1750s, Coats is the world's leading industrial thread and consumer textile crafts business, at home in more than 70 countries, employing over 20,000 people across six continents. Revenues in 2014 were US$1.7bn. 

You may also want to read our recent news post about Coats Acquiring GSD.

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