Accelerate profitable sales growth by leveraging innovation, sustainability, digital technologies and our global scale to create world-class products and services, delivering value to our stakeholders.
Our purpose provides the basis for our strategy whereby we will accelerate profitable sales growth and transform the business to improve margins and create sustainable value for our shareholders, customers, employees and the communities in which we operate. Our strategic goals are underpinned by the following enablers:
Accelerate Profitable Sales Growth
Increase our market share by delivering sustainable, innovative and value-added product and service solutions to our global customer base. Continue to strengthen our global footprint to support supply chain regionalisation.
Focus on sustainability-led innovations to improve product offerings to key brands and manufacturers, and leverage our newly created scale to drive efficiencies, share gains, and commercial synergies.
Lead with innovative and sustainable developments in highly engineered products, creating solutions for attractive and growing markets.
Transform the Business
In March, Coats Group announced a number of strategic projects to improve margins by optimising the portfolio and footprint, improving the overall cost base efficiency and mitigating structural labour availability issues in the US. The resulting benefits are anticipated to deliver cost savings of $70m by 2024.
Disciplined use of capital to fund inorganic opportunities to build scale and acquire new capabilities, technology and talent.
Sustainability is a core tenet of our wider business strategy and an imperative to our mid and long‑term business success. Playing our part in mitigating climate change is core to our strategy, with commitments made to reduce carbon emissions in line with Science Based Targets and underpinned by energy transition to renewables and substitution of materials to non virgin-oil based resources.
Innovation is at the heart of everything we do. We recognise that big, bold, game-changing ideas are crucial to our success.
We continue to accelerate our innovation credentials and solutions to deliver tailored customer design requirements.
Our investment in technology infrastructure and digital tools has allowed us to flex our supply chain, react to situations with speed and ensure we are focused on customer, shareholder and employee value creation.
In 2022, we enhanced our offering with the acquisition of Rhenoflex and the cutting edge digital technology of Rhenoprint 2.0.