Coats invests in tech thread start-up
Global threads giant Coats Group said Tuesday that it has become a strategic investor in Twine Solutions, an Israel-based technology start-up “that has developed a revolutionary digital thread dyeing system.”
The world's leading industrial thread manufacturer is also the global number two in zips (behind YKK) and has a fashion industry-linked business that’s about as close to recession-proof as it can be in today’s environment. But it’s not resting on its laurels and acquisitions are a key part of its strategy to keep it growing.
The company is investing $5 million in Twine for a 9.5% share in the company and a seat on the board.
Twine has created a proprietary digital thread dyeing system which combines the features of small-scale digital printing with the traditional dyeing process and enables thread to be produced, on demand, to any colour and length.
Rajiv Sharma, Coats Group CEO called the move an “exciting and innovative strategic” one and said that the firm is “investing in future technology which will improve our industry and its sustainability by directly addressing the key needs of our customers: speed, innovation and sustainability.”
He believes that the disruptive technology “has the potential to revolutionise the thread industry” and said Coats will work closely with Twine to commercialise this opportunity.
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