- Industrial thread manufacturer Coats said Tuesday it had invested $5m for a 9.5% stake in Israeli based technology start-up Twine Solutions.

Twine had created a proprietary digital thread dyeing system which combined the features of small-scale digital printing with the traditional dyeing process and enabled thread to be produced, on demand, to any colour and length, Coats said.

'This is an exciting and innovative strategic move. We are 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. The disruptive technology has the potential to revolutionise the thread industry and Coats will work closely with Twine to commercialise this opportunity,' said Rajiv Sharma, Group Chief Executive.

At 8:12am: [LON:COA] Coats Group Plc share price was -0.3p at 80.6p

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