Coats recommits to Colombia - sportstextiles: Lea SportsTextiles

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Coats recommits to Colombia

13/05/2022
UK threadmaker Coats has revealed it intends to concentrate its operations in South America on the profitable Colombian market after making the decision to divest of its Brazilian and Argentinian divisions. 

Coats Brazil and Argentina will now be run by São Paulo-based enterprise Reelpar.

“We believe that for the Brazil and Argentina business to prosper in the future, it has to reinvent itself to meet the specific needs of local markets. With this in mind, we felt that the best decision to safeguard the future of the organisation was to sell the business to new owners who will be solely focused on these local markets,” commented group chief executive Rajiv Sharma. 

The company said that its vision was now fixed on profitable sales growth in Asia, Europe and North and Central America, all of which it described as strategically important. 

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