UK-based Avon Rubber indicated on 2 January that it has completed its previously announced purchase of 3M's military personal protective-equipment business, including the rights to the Ceradyne brand.
Avon is paying about USD91 million in cash for the business, which makes body armour and helmets for defence and law enforcement customers and has about 280 employees. Avon said it will pay up to an additional USD25 million "if the business is successful in pending tenders for legacy products".
Avon has described the 3M unit as complementary to its existing work making chemical, biological, radiological, and nuclear respiratory protection equipment, while 3M, a US technology company, has said that the sale will enable its Advanced Materials Division to focus on other activities.
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