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Coats announces 100% acquisition of Gotex

Coats announces 100% acquisition of Gotex

Coats, the world’s leading industrial thread manufacturer, has acquired the Spanish high performance yarns & fibres manufacturer - Gotex.  

Coats has acquired 100% of Gotex which becomes part of Coats Speciality with immediate effect.

Gotex’s unique fibreglass coating technology and products will complement Coats’ existing coated aramid product range.  There is much synergy between the product offerings and together, the companies will be able to provide an enhanced range of products to the fibre optics cable industry.  The acquisition reinforces Coats’ strategy of expanding into value added engineered yarns.   

Gotex is headquartered near Barcelona, Spain with Its core customer base being fibre optic cable manufacturers, although oil and gas flexible pipe producers and high tech sports equipment manufacturers are also growing areas for the company.  

Paul Forman, Group Chief Executive, Coats, said: "Gotex is an exciting first acquisition for our Speciality business that is fully aligned with our growth strategy; a global market leader in developing and producing innovative, high performance materials that complement our exisiting product portfolio.  It is an ideal fit with our Speciality business."

David Ferré, Managing Director, Gotex, said:"This offers great opportunity both for Gotex and our customers.  It provides a way to accelerate our business growth and further develop our brand through significantly enhanced market strength and opportunity, as well as prospects for product collaboration with a global market leader."

The acquisition of Gotex follows the highly successful acquisition of GSD Corporate Ltd in May 2015 and also, more recently, Fast React Systems in May 2016.  These three deals show Coats’ intent to grow via M&A in Speciality and Services, two areas of strategic priority. 

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