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Investing.com -- Coats has completed its acquisition of OrthoLite following receipt of required regulatory clearances, the company announced Thursday.
The completion aligns with the timeline provided when the purchase was initially announced. Coats also confirmed that trading since the first half of 2025 has been in line with management expectations for both Coats and OrthoLite.
The company plans to release a more comprehensive third-quarter trading update on November 7.
As part of the acquisition, Coats will streamline its divisional structure into two divisions: Apparel and Footwear.
The company will discontinue its Performance Materials division, redistributing those businesses between the remaining divisions.
Personal Protection and Performance Threads, which represent approximately 80% of the Performance Materials division, will be integrated into the Apparel division.
The Telecom & Energy business, accounting for about 20% of Performance Materials, will become part of the Footwear division.
This reorganization follows Coats’ earlier exit from the non-core Americas Yarns business earlier this year.
The company stated that the new structure will reduce operational complexity and better align the divisions’ underlying technologies.
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