Avon Protection PLC (LSE:AVON), the engineer and manufacturer of army and law enforcement protection equipment, said it has agreed to sell the assets of its Lexington, KY facility to CoorsTek.
Lexington is part of its armour business acquired in 2020 when Avon bought 3M’s ballistic protection arm.
The site in Kentucky is focused on manufacturing ceramic plates, an essential component of body and aircraft armour.
Avon announced earlier this year that its armour business was in the process of being wound down.
"We are delighted to announce the sale of the Lexington facility today, which provides a future for the facility and the team based there, whilst allowing us to focus on our core capabilities to deliver mission-critical respiratory and head protection solutions through our leading positions with the world's militaries and first responders,” said Avon's executive chair Bruce Thompson.
The deal is expected to be completed in the second half of next year, once Avon has fulfilled its final contractual obligations with its customers, it said.