Coats

Coats

FRC actuarial and accountancy investigation into conduct of individual members

Coats, the world’s leading industrial thread manufacturer and a major player in the Americas textile crafts market, has recently been made aware of an investigation launched by the Financial Reporting Council (FRC) into the historical conduct, between 2004 and 2012, of one or more persons in connection with the pension schemes of various companies within Guinness Peat Group plc (subsequently renamed Coats Group plc).

We understand that this investigation relates solely to a person or persons governed by the FRC’s disciplinary scheme, none of whom are currently employed by Coats Group plc.

We have no further information on the investigation at this time and are not in a position to comment further.

ENDS

For more information and to request a photo of Anne Fahy contact:

Kristina Blissett, Head of Communications kristina.blissett@coats.com
T +44 (0)208 210 5084, M +44 (0)7714 539887

Notes to Editors

About Coats

Coats is the world’s leading industrial thread manufacturer and a major player in the Americas textile crafts market. At home in some 60 countries, Coats employs 19,000 people across six continents. Revenues in 2016 were US$1.5bn.

Coats’ pioneering history and innovative culture ensure the company leads the way around the world: providing complementary and value added products and services to the apparel and footwear industries; applying innovative techniques to develop high technology Performance Materials threads and yarns in areas such as automotive, composites and fibre optics; and extending the crafts offer into new markets and online.

Headquartered in the UK, Coats is a FTSE 250 listed company on the London Stock Exchange.

  • Each year we make enough thread to go into 8 billion pairs of jeans - that’s one for every person on the planet
  • Every month Coats produces enough thread to stretch all the way to the sun
  • More than 450 million pairs of shoes are made every year using Coats’ thread
  • More than 100 million car airbags are made using Coats’ Performance Materials thread every year
  • In 1879 Thomas Edison used Coats’ thread in his experiments to invent the light bulb
  • Our Red Heart knitting and crochet yarn brand has been named ‘America’s Most Recommended’ by the Women’s Choice Award for three years running
  • Our flame retardant Performance Materials threads can withstand temperatures as high as 1,000 degrees Celsius
  • Coats is the second largest supplier of zips to global brands