Coats describes itself as the global market leader in thread, claiming a 22% market share and operations in 67 countries. The company is new to the Top Track 100, having been acquired in November 2003 by a consortium composed primarily of Guinness Peat Group, RIT Capital Partners and Chapman. The deal valued Coats, which was previously listed on the London Stock Exchange, at £518m. The company is in the process of moving its main production facilities to Mexico, eastern Europe and Asia, where it employs half of its 30,000 staff. Sales totalled £1,004m in 2003.
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