Coats opens the day's trading on the LSE

RNS Number : 8881Q

Coats Group PLC

23 June 2015

 

Coats opens the day's trading on the London Stock Exchange

23 June 2015: 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 125^th 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 125^th 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.

ENDS

For more information and to request a high resolution photo from the ceremony contact:

Kristina Blissett, Communications Manager [e-mail]

T [phone], M [phone]

Notes to Editors

About Coats

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. 

Our well-known brands and strong relationships with customers and consumers mean our products and services meet current and future needs. Our company-wide understanding of our business partners and consumers, coupled with the deep expertise of our people, builds trust and certainty.

Coats' pioneering history and innovative culture ensure the company continues leading the way around the world: providing complementary and value added products and services to the apparel and footwear industries; extending the crafts offer into new markets and online; and applying innovative techniques to develop products in new areas such as tracer threads, aramids and fibre optics.

·      One in five garments on the planet is held together using Coats' thread

·      More than 100 million car airbags are made using Coats' thread every year

·      Coats produces enough yarn to knit 70 million scarves a year

·      Every three hours Coats makes enough thread to go to the moon and back

·      More than 450 million pairs of shoes are made every year using Coats' thread

·      In 1879 Thomas Edison used Coats' thread in his experiments to invent the light bulb

·      Every week over 10 billion teabags are brewed using Coats' thread

·      Coats produces enough thread to reach around the Equator every ten minutes

·      Thousands of surgical operations take place every day using Coats' thread

·      Coats is the second largest and fastest growing global zip manufacturer

To find out more about Coats visit www.coats.com 

To subscribe to news releases as they are added to the website go to www.coats.com/media 

 

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