Coats, an industrial thread manufacturer, has acquired Gotex, a Spain-based company that designs and manufactures high performance fibres, yarns, and tapes with applications in the oil and gas, telecommunications, and energy sectors.

Gotex will become a part of Coats Speciality with immediate effect. The acquisition reinforces Coats’ strategy of expanding into value added engineered yarns. Gotex’s unique fibreglass coating technology and products will complement Coats’ existing coated aramid product range.

Paul Forman, group chief executive, Coats, said, “Gotex is an exciting first acquisition for our Speciality business that is fully aligned with our growth strategy; a global market leader in developing and producing innovative, high performance materials that complement our existing product portfolio.”

“This offers great opportunity both for Gotex and our customers.  It provides a way to accelerate our business growth and further develop our brand through significantly enhanced market strength and opportunity, as well as prospects for product collaboration with a global market leader,” said David Ferré, managing director, Gotex. (HO)