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Business/Financial

Avon Rubber Completes Acquisition Of 3M’s Ballistic Protection Business

By Cal Biesecker

Thursday, January 2nd, 2020

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Avon Rubber Completes Acquisition Of 3M’s Ballistic Protection Business

3M body armor vest and plates. Photo: 3M

Britain’s Avon Rubber plc on Thursday said it has completed its $91 million acquisition of 3M’s [MMM] advanced ballistic protection business, including the Ceradyne brand, positioning it in the U.S. market. The deal, which includes a $25 million earnout provision based on the outcome of pending bids, was first announced last August. 3M’s ballistic protection business is part of the former Ceradyne Inc. that it acquired in 2012 for $860 million. The business has about 280 employees and had $85.4…

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