Coats Global Services (CGS), the world’s leading industrial thread manufacturer has acquired Fast React Systems, a UK-based company which provides software solutions and expertise to improve the operational efficiency of manufacturers, sourcing companies and retailers in the apparel and footwear industries. Geared towards diversification of CGS’ operational excellence, the acquisition of Fast React Systems is another benchmark development in a short span of 12 months following Coats acquisition of GSD Corporate Ltd. in May 2015.
Also Read – CGS set to acquire Fast React Systems
Paul Forman, Group Chief Executive, Coats, detailed on the development, “There is a strong synergy between Fast React Systems’ products, the CGS offerings, and the market demand. We share a footprint of both existing and target customers and together, we can provide an even wider and more attractive product portfolio.”
Andrew Brown, Group MD, Fast React Systems, shared that the acquisition is a huge opportunity for Fast React’s products, customers and employees and marks the start of an exciting new phase in the company’s development. Coats Global Services was launched in 2013 in response to customer demand to provide the sewn product industries with expert insights, technical guidance and practical solutions to realise productivity improvements across the supply chain.
In another development, Coats Speciality has acquired Barcelona-based Gotex, a designer and manufacturer of high performance fibres, yarns and tapes used in the telecommunications, energy and oil and gas sectors. Coats has acquired 100 per cent stakes of Gotex which becomes part of Coats Speciality with immediate effect.
