LONDON, UK: Avon Protection has reached an settlement to promote the assets of its Lexington, KY facility to CoorsTek Inc., a global producer of superior ceramics supplies for a modest money consideration.
This facility is a half of the armor enterprise that was acquired through Avon Protection’s acquisition of 3M’s ballistic safety enterprise in 2020. It is focused on manufacturing ceramic plates, an important component of physique armor and plane armor. As introduced earlier this year, the armor enterprise is within the method of being wound down within the present monetary year.
CoorsTek is a longtime provider to the aerospace and protection industry, investing over $50 million on this enterprise over the previous two years, together with a state-of-the-art superior supplies manufacturing campus in Benton, Arkansas.
Completion of the transaction is anticipated to happen in H2 FY23, as soon as Avon Protection has fulfilled its final contractual obligations with its customers in line with the agreed wind-down plan.
Bruce Thompson, Executive Chair of Avon Protection, commented: “We are delighted to announce the sale of the Lexington facility today, which provides a future for the facility and the team based there, while permitting us to focus on our core capabilities to ship mission-critical respiratory and head safety options through our main positions with the world’s militaries and first responders.”
Jonathan Coors, CoorsTek CEO, commented: “Avon Protection’s armor enterprise is an excellent complement to our robust protection business. We are happy so as to add these assets to our industry portfolio as we proceed to develop on this area and drive additional improvements and development within the armor and ceramics industry.”
Avon Protection makes merchandise that are trusted to guard the world’s militaries and first responders.
Founded in 1910, CoorsTek is a number one global producer of technical ceramics. By leveraging experience in engineering and supplies science, CoorsTek provides options to complex technical challenges within the semiconductor, medical, automotive, aerospace, and different industries.
With over four hundred proprietary formulations, vertically built-in systems, and unparalleled course of capabilities, CoorsTek companions with its customers to make the world measurably better.