Coats & Fulcrum strike deal to create new textile products
March 05, 2013 - United Kingdom
Fulcrum SP Materials Ltd, a world leader in innovative nanotechnology for enhanced composite materials, signed a major commercial agreement with the world’s leading industrial thread and consumer textile crafts business, Coats plc.
Nimrod Litvak, CEO, Fulcrum said: ‘Building on our strong partnership with Coats, Fulcrum will be able to demonstrate and commercialise its unique protein and carbon nanotube (SP1/CNT) technology for providing lighter, stronger and cost effective enhanced composite yarns and fabrics.
‘This commercial agreement with Coats - a world class company in the textile market - is an important strategic move for us and recognises Fulcrum’s innovative technology. By forming strategic partnerships, Fulcrum will continue to use its technology to develop and commercialise new products for the composite fabrics and adhesive markets,’ he said.
Paul Forman, Group Chief Executive, Coats plc, said: ‘Fulcrum’s ground breaking protein and CNT technology can significantly increase the strength to weight ratio of materials, including thread, in a very cost effective manner. It could provide exciting product enhancement opportunities for our speciality business in particular and our research teams are already collaborating to develop new products to meet our customers’ evolving needs. We are proud to be partnering with Fulcrum on this journey.’
About Coats
With a rich heritage dating back to the 1750s, Coats is the world's leading industrial thread and consumer textile crafts business, at home in more than 70 countries, employing 20,000 people across six continents. Revenues in 2011 were US$1.7bn.
Nimrod Litvak, CEO, Fulcrum said: ‘Building on our strong partnership with Coats, Fulcrum will be able to demonstrate and commercialise its unique protein and carbon nanotube (SP1/CNT) technology for providing lighter, stronger and cost effective enhanced composite yarns and fabrics.
‘This commercial agreement with Coats - a world class company in the textile market - is an important strategic move for us and recognises Fulcrum’s innovative technology. By forming strategic partnerships, Fulcrum will continue to use its technology to develop and commercialise new products for the composite fabrics and adhesive markets,’ he said.
Paul Forman, Group Chief Executive, Coats plc, said: ‘Fulcrum’s ground breaking protein and CNT technology can significantly increase the strength to weight ratio of materials, including thread, in a very cost effective manner. It could provide exciting product enhancement opportunities for our speciality business in particular and our research teams are already collaborating to develop new products to meet our customers’ evolving needs. We are proud to be partnering with Fulcrum on this journey.’
About Coats
With a rich heritage dating back to the 1750s, Coats is the world's leading industrial thread and consumer textile crafts business, at home in more than 70 countries, employing 20,000 people across six continents. Revenues in 2011 were US$1.7bn.