:

Business/Financial

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

By Cal Biesecker

Thursday, January 2nd, 2020

SHARE:

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…

Congress

SASC’s FY ‘27 NDAA Sticks With Army’s Plan For Legacy Aviation Procurement Cuts

The Senate Armed Services Committee’s (SASC) version of the next defense policy sticks to the Army’s proposed plan to cut procurement of its legacy aviation fleet, and does not authorize […]

Congress

SASC Approves $1.14 Trillion FY ‘27 NDAA With ‘Right to Repair’ Reform, Stock Buyback Restriction

The Senate Armed Services Committee (SASC) has approved its $1.14 trillion version of the next defense policy bill, adopting “right to repair” reform to provide the military services’ greater ability […]

Congress

House Appropriators Unveil $1.07 Trillion FY ‘27 Defense Bill, Restore Funds For E-7, Army Aviation

House appropriators on Wednesday released their $1.07 trillion fiscal year 2027 defense spending bill, with the legislation reversing Army aviation cuts, restoring funding for the Air Force’s E-7 Wedgetail program […]

Congress

MOSA Implementation By Pentagon Lagging, GAO Official Says

While the Modular Open Systems Approach (MOSA) has been a requirement for major defense acquisition programs since January 2019 and other Defense Department acquisitions since January 2021, few programs are […]