- Industrial thread manufacturer Coats said it had signed an agreement to acquire Pharr High Performance Yarns for $37m.

The acquisition would provide further expertise and scale to Coats' existing personal protection business, the company said.

Coats would enhance Pharr HP's performance by 'leveraging its extensive textile experience, strong industry connections, existing operational footprint in North America, and strong global brand to deliver high performance solutions for its customers,' it added.

The acquisition, subject to certain regulatory approvals, was expected to complete in early 2020.

At 9:40am: [LON:COA] Coats Group Plc share price was +1.55p at 69.75p

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