{"id":4820,"date":"2017-06-01T11:59:04","date_gmt":"2017-06-01T11:59:04","guid":{"rendered":"http:\/\/coats.com\/?post_type=news_post_type&p=4820"},"modified":"2023-11-17T12:01:52","modified_gmt":"2023-11-17T12:01:52","slug":"coats-enters-the-ftse-250","status":"publish","type":"news_post_type","link":"https:\/\/www.coats.com\/id\/news\/2017\/06\/coats-enters-the-ftse-250\/","title":{"rendered":"Coats enters the FTSE 250"},"content":{"rendered":"

Coats, the world\u2019s leading industrial thread manufacturer and a major player in the Americas textile crafts market, is to enter the FTSE 250.\u00a0 The latest quarterly review by FTSE Russell, the global index provider, confirms that Coats has met the requisite criteria and will enter the FTSE 250 with effect from Monday 19 June.\u00a0 This also comes after Coats market capitalisation reaching in excess of \u00a31bn last week.<\/p>\n

Coats, which was a founding member of the FT 30 index created in 1935 and was also once the third largest company in the world, has undergone significant corporate change in recent years in order to help reach the strategic objective of entering the FTSE 250.\u00a0 Previously owned by the Guinness Peat Group it returned to listed status in February 2015.\u00a0 What then followed was a series of unprecedented major steps that together have led to its normalisation as a listed company.<\/p>\n

In June 2016 it delisted from both the Australian and New Zealand stock exchanges.\u00a0 This helped concentrate trading volumes on the UK market and also supported the repositioning of Coats as a UK headquartered, global industrial manufacturing business.\u00a0 In December 2016, the UK Pensions Regulator confirmed it would cease regulatory action for two pensions schemes following Coats signing heads of terms with the Trustees.\u00a0 Yet another key step was made earlier this year, in February, when Coats announced its intention to return to the dividend list.<\/p>\n

Other steps in the corporate transformation of Coats include the appointment of Rajiv Sharma as Group Chief Executive, January 2017; the appointment of Simon Boddie as Chief Financial Officer, July 2016; and the completion of three acquisitions.\u00a0 In May 2015, it acquired GSD, a UK based supplier of management solutions that analyse time, cost and production capability in the sewn products sector.\u00a0 In June 2016 it acquired Fast React Systems, which provides software solutions and expertise to improve the operational efficiency of manufacturers, sourcing companies and retailers in apparel and footwear sector.<\/p>\n

Also in June 2016, Coats acquired Gotex, a Spanish based company which designs and manufactures high performance fibres, yarns and tapes used in the telecommunications, energy and oil and gas sectors.\u00a0 This was the first acquisition for the Performance Materials part of the business. All three acquisitions have proved highly successful with the companies each outperforming their post-acquisition targets.<\/p>\n

Rajiv Sharma, Group Chief Executive, Coats, said: \u2018This is excellent news for our employees, shareholders and customers and is the culmination of an intense period of corporate transformation.\u00a0 Thanks go to our 19,000 employees for delivering strong operational results.\u2019<\/p>\n

To see the announcement by FTSE Russell go to\u00a0www.ftserussell.com<\/a><\/p>\n

ENDS<\/strong><\/p>","protected":false},"excerpt":{"rendered":"

Having met the requisite criteria, Coats will enter the FTSE 250 with effect from Monday 19 June<\/p>","protected":false},"featured_media":0,"template":"","news-type":[149],"class_list":["post-4820","news_post_type","type-news_post_type","status-publish","hentry","news-type-group"],"acf":[],"yoast_head":"\nCoats enters the FTSE 250 | Coats Group plc<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.coats.com\/id\/news\/2017\/06\/coats-enters-the-ftse-250\/\" \/>\n<meta property=\"og:locale\" content=\"id_ID\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Coats enters the FTSE 250 | Coats Group plc\" \/>\n<meta property=\"og:description\" content=\"Having met the requisite criteria, Coats will enter the FTSE 250 with effect from Monday 19 June\" \/>\n<meta property=\"og:url\" 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