Melksham, UK – Avon Rubber plc has completed the acquisition of 3M’s ballistic-protection business, the company said in a 2 Jan statement.
The UK rubber company originally announced the deal in August saying the initial value of the was $91 million (€81 million), which could increase by up to $25 million depending on the outcome of pending contract bids.
In its latest news release, Avon did not disclose the final value of the deal.
The unit, which was part of 3M’s advanced materials business, consists of ballistic helmets, body armour, flat armour and related helmet-attachment products for law enforcement.
Avon, which already supplies protection masks to the US and global military and law enforcement forces, said in August that the acquisition represented “a very attractive opportunity.”
"Incorporating the business into the Avon Protection portfolio will allow [us] to expand more rapidly into rest of world military and law enforcement markets," said CEO Paul McDonald.