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Coats inks binding settlements on two pension schemes

Coats Group has signed binding settlement agreements with the trustees of the UK Coats Pension Plan and Brunel Holdings Pension Scheme.

The company has received written assurances from the UK Pensions Regulator that on completion of the settlement its regulatory action will automatically cease in relation to these two schemes under the warning notices issued to the company in 2013 and 2014.

Coats said: "Following a series of company determined corporate steps completion will occur by early March 2017."

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