Acquisition of Patrick Yarn Mill
The acquisition of Patrick Yarn Mill follows 2 highly successful acquisitions by Coats in 2016. Gotex SA, Barcelona/Spain, which designs and manufactures high-tech industrial yarns and tapes used in the telecommunications, energy and oil and gas sectors, became part of the Performance Materials unit. Fast React Systems (FRS), Derby/UK, which provides software solutions and expertise to improve operational efficiency and speed to market in apparel and footwear, became part of Coats Global Services.
Patrick Yarn Mill has 150 employees and in 2016 its annual sales were US$ 36.5 million.