Patrick Yarn Mill Acquired By Coats

England-based industrial thread manufacturer Coats has acquired Kings Mountain, N.C.-based Patrick Yarn Mill, a producer of high-performance, cut-resistant and flame-retardant yarns. Coats reports Patrick Yarn Mill’s unique expertise will expand its Performance Materials portfolio and offer opportunities in innovation.

“Patrick Yarn Mill becoming part of the Coats family creates many opportunities for both companies as there is a lot of synergy between our product offerings and technology,” said Gilbert Patrick, president, Patrick Yarn Mill. “A key one is being able to leverage Coats’ unrivaled global footprint and strong corporate brand to accelerate market growth, which will benefit not only Patrick Yarn Mill, but also our employees and our community.”

“Patrick Yarn Mill is an exciting acquisition that supports a key aspect of our growth strategy: to identify innovation synergies that build scale in high technology sectors,” said Rajiv Sharma, group chief executive, Coats. “It is a dynamic, customer focused company and its unique spinning systems combined with our existing technology portfolio will provide a strong market offering. The opportunity to collaborate with a market leader in areas such as innovation and R&D is extremely exciting and very positive, not only for Patrick Yarn Mill’s future, but also for our customers’ future”

January/February 2018