:

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

House Republicans’ Blueprint For Reconciliation 3.0 Includes $60 Billion For Defense

House Republicans on Wednesday unveiled a blueprint for a third reconciliation bill that includes $60 billion for defense, a figure slightly below the Trump administration’s request to cover Iran war […]

Congress

Senate Dems Block Consideration Of FY ‘27 NDAA Over Iran War Concerns

Senate Democrats on Tuesday blocked a vote to advance consideration of the chamber’s $1.14 trillion fiscal year 2027 National Defense Authorization (NDAA). The procedural vote was 46-50, failing to reach […]

Congress

Concerns Raised At SASC Hearing On Unobligated Reconciliation Funds And Lack Of Updates On Iran War Cost

Members of the Senate Armed Services Committee (SASC) raised concerns at a hearing on Tuesday about the majority of funds in the $153 billion first reconciliation bill being unobligated thus […]

Unmanned Systems

CBO Says Upfront Costs To Protect Military Installations From Drones Between $1 Million And $74 Million

The initial costs to acquire and deploy counter-small unmanned aircraft system (C-sUAS) defenses at individual Defense Department installations are estimated at between $1.2 million and $73.6 million depending on the […]