3M: sells its Ballistic-Protection Business
(CercleFinance.com) - 3M announced on Wednesday that it has reached an agreement to sell Avon Rubber, its ballistic protection business for 91 million dollars.
In a statement, the US diversified group said that the deal will enable it to refocus on other trades of its advanced materials division, including ceramics and polymers.
Last year, 3M's ballistic protection division, which provides helmets and bullet-proof vests to the police, generated sales of about 85 million dollars.
3M states a further contingent consideration of up to 25 million dollars is payable depending on the outcome of pending tenders.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
In a statement, the US diversified group said that the deal will enable it to refocus on other trades of its advanced materials division, including ceramics and polymers.
Last year, 3M's ballistic protection division, which provides helmets and bullet-proof vests to the police, generated sales of about 85 million dollars.
3M states a further contingent consideration of up to 25 million dollars is payable depending on the outcome of pending tenders.
Copyright (c) 2019 CercleFinance.com. All rights reserved.