Coats Group plc (LON:COA), the world’s leading industrial thread manufacturer, today announced it has become a strategic investor in Twine Solutions, an Israeli based technology start-up that has developed a revolutionary digital thread dyeing system.
Coats is investing $5m for a 9.5% share in the company and a seat on the Board.
Twine has created a proprietary digital thread dyeing system which combines the features of small-scale digital printing with the traditional dyeing process and enables thread to be produced, on demand, to any colour and length.
Rajiv Sharma, Coats Group Group Chief Executive, 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.’