Coats Group plc is a British multinational company. The company provides products, including apparel, accessory and footwear threads, structural components for footwear and accessories, fabrics, yarns, and software applications. Coats is listed on the

London Stock Exchange The London Stock Exchange (LSE) is a stock exchange based in London, England. the total market value of all companies trading on the LSE stood at US$3.42 trillion. Its current premises are situated in Paternoster Square close to St Paul's Cath ...

and is a constituent of the

FTSE 250 Index The Financial Times Stock Exchange 250 Index, also called the FTSE 250 Index, FTSE 250, or, informally, the "Footsie 250" , is a stock market index that consists of the 101st to the 350th mid-cap blue chip companies listed on the London Stock ...

and FTSE4Good Index. Revenues in 2023 were $1.4bn.

Founding

Paisley, Scotland Paisley ( ; ; ) is a large town situated in the west central Lowlands of Scotland. Located north of the Gleniffer Braes, the town borders the city of Glasgow to the east, and straddles the banks of the White Cart Water, a tributary of the River ...

became a hub for the textile industry in the United Kingdom. In 1755 James and Patrick Clark began a

loom A loom is a device used to weaving, weave cloth and tapestry. The basic purpose of any loom is to hold the Warp (weaving), warp threads under tension (mechanics), tension to facilitate the interweaving of the weft threads. The precise shape of ...

equipment and

silk Silk is a natural fiber, natural protein fiber, some forms of which can be weaving, woven into textiles. The protein fiber of silk is composed mainly of fibroin and is most commonly produced by certain insect larvae to form cocoon (silk), c ...

thread business. In 1806, Patrick Clark invented a way of twisting strands of

cotton Cotton (), first recorded in ancient India, is a soft, fluffy staple fiber that grows in a boll, or protective case, around the seeds of the cotton plants of the genus '' Gossypium'' in the mallow family Malvaceae. The fiber is almost pure ...

together to substitute for silk that was unavailable due to the French

blockade A blockade is the act of actively preventing a country or region from receiving or sending out food, supplies, weapons, or communications, and sometimes people, by military force. A blockade differs from an embargo or sanction, which are ...

of Great Britain. He opened the first plant for manufacturing the cotton thread in 1812. In 1802 James Coats set up his own

weaving Weaving is a method of textile production in which two distinct sets of yarns or threads are interlaced at right angles to form a fabric or cloth. Other methods are knitting, crocheting, felting, and braiding or plaiting. The longitudinal ...

in Paisley. In 1826 he opened a cotton mill at Ferguslie to produce his own thread and, when he retired in 1830, his sons, James & Peter, took up the business under the name of J. & P. Coats. In 1890 Coats listed on the London Stock Exchange, with capital of £5.7 million.

Implantation in the United States

The firm expanded internationally, particularly to the United States. In 1869, J. & P. Coats signed a contract with the Conant Thread Company in

Pawtucket, Rhode Island Pawtucket ( ) is a city in Providence County, Rhode Island, United States. The population was 75,604 at the 2020 United States census, 2020 census, making the city the fourth-largest in the state. Pawtucket borders Providence, Rhode Island, Prov ...

, which entitled them to use of the Conant company's manufacturing facilities. This move towards local production in the United States was primarily driven by high tariffs on imported goods, including thread. In 1893, J. & P. Coats absorbed the Conant Thread Company and assumed direct control over the Pawtucket plant, under the management of James Coats (1834–1913) and Alfred M. Coats (1869–1942). In 1896 J. and P. Coats acquired controlling interests in the firms of Clark and Co, Jonas Brook and Brothers, and James Chadwick and Brother. The Clark family had manufacturing sites in

Newark, New Jersey Newark ( , ) is the List of municipalities in New Jersey, most populous City (New Jersey), city in the U.S. state of New Jersey, the county seat of Essex County, New Jersey, Essex County, and a principal city of the New York metropolitan area. ...

U.S. The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 states and a federal capital district, Washington, D.C. The 48 contiguous ...

as the Clark Thread Co. since 1864. J & P Coats moved their base of operations to Delaware in 1951 and officially closed the plant in Pawtucket in November 1964.

Mergers and consolidation

In 1952 J. & P. Coats and the Clark Thread Co. merged to become Coats & Clark's. In 1961 a merger with Patons and Baldwins created Coats Patons. In 1986 a merger with Vantona Viyella created Coats Viyella. In 2003 Guinness Peat took Coats

private Private or privates may refer to: Music * "In Private", by Dusty Springfield from the 1990 album ''Reputation'' * Private (band), a Denmark-based band * "Private" (Ryōko Hirosue song), from the 1999 album ''Private'', written and also recorded ...

and in 2015 the business returned to the market as "Coats Group". Coats was fined €110 million by the

European Commission The European Commission (EC) is the primary Executive (government), executive arm of the European Union (EU). It operates as a cabinet government, with a number of European Commissioner, members of the Commission (directorial system, informall ...

in 2007 for participation in

cartel A cartel is a group of independent market participants who collaborate with each other as well as agreeing not to compete with each other in order to improve their profits and dominate the market. A cartel is an organization formed by producers ...

s with Prym, YKK, and other companies to fix and manipulate the prices of zips and other fasteners, and of the machinery to make them. One of the cartels ran for twenty-one years. An appeal in 2012 to the General Court of the European Union was dismissed, and the fine upheld.Aoife White (27 June 2012)
Coats and YKK Lose EU Court Challenges Over Antitrust Fines
Bloomberg. Accessed March 2015. The company acquired the footwear components business, Texon, in July 2022, and the footwear reinforcement components business, Rhenoflex, in August 2022.

References

External links

* * * * Boston Public Librar
Thread Trade Cards
Collection {{DEFAULTSORT:Coats Plc 1755 establishments in England 1755 establishments in Scotland British companies established in 1755 Companies based in the London Borough of Hillingdon Companies in the FTSE 250 Index Companies listed on the London Stock Exchange Manufacturing companies established in 1755 Manufacturing companies of Scotland Privately held companies of the United Kingdom Scottish brands Textile manufacturers of Scotland

Founding

Implantation in the United States

Mergers and consolidation

See also

References

Further reading

External links