Coats acquires US yarn producer
The acquisition is designed to enhance Coats' range of threads for personal protection applications.
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Industrial thread manufacturer Coats has completed its acquisition of North Carolina-based Pharr High Performance Yarns (Pharr HP). Pharr HP specialises in providing technical yarn solutions to the growing markets of industrial thermal protection, defence and fire service industries. According to Coats, gaining Pharr HP’s manufacturing capabilities and customer base provides further expertise and scale to Coats' existing personal protection business – part of the company's 'performance materials' segment.
Coats group chief executive Rajiv Sharma, commented: "We can draw from our strong track record of successfully integrating and growing acquisitions as we add the Pharr HP operations to the Coats family. The completion of the transaction means we can now further enhance the expertise and scale of our personal protection business."
Coats currently has a presence in some 50 countries, and employs a workforce of 18,000 people across six continents.
This article was originally published on page 3 of the April 2020 issue of SATRA Bulletin.