Coats adds Rhenoflex to growing portfolio
Rhenoflex specialises in the production of components such as box toes, eyelets, heel counters and interlinings.
Following its acquisition of footwear materials producer Texon in July, UK-based industrial thread maker Coats is now purchasing the German shoe reinforcement components manufacturer Rhenoflex. Having a global presence extending to China and Vietnam, Ludwigshafen am Rhein-headquartered Rhenoflex specialises in components such as box toes, eyelets, heel counters and interlinings.
According to Coats Group chief executive, Rajiv Sharma, this newest addition is complementary to the Coats portfolio. “Rhenoflex is a high-quality business focused on sustainability and innovation and presents an exciting opportunity for Coats to establish a leading global platform in footwear components,” he said.
Rhenoflex was founded in 1952 as a subsidiary of Giulini Chemie GmbH. Its achievements include the opening of a Chinese production plant in 2005 and this facility’s expansion seven years later. The independent Rhenoflex company was established in 2015 and a Hong Kong arm began trading in 2016. Rhenoflex Italia was set up in 2020, and a ‘Technology Competence Centre Asia’ opened in Vietnam in the same year.
This article was originally published on page 3 of the September 2022 issue of SATRA Bulletin.