GPG sees Coats rebranding in sight, slips back into the red

Tue, 26 Feb 2013

By Paul McBeth Feb. 27 (BusinessDesk) - Guinness Peat Group expects to rebrand itself as UK threadmaker Coats, its biggest asset, in the second half of 2013, having slipped into the red last year on a fine handed down by the European Court. The London-headquartered firm made a loss of 3 million pounds in the 12 months ended Dec. 31, compared to a profit of 1 million pounds a year earlier, it said in a statement. That captured the net 76 million pound hit it took on the EC fine handed down to Coats for a historical antitrust case as it goes t...

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