Avon Protection to divest Kentucky plant

MELKSHAM, U.K.—Avon Protection P.L.C. has reached an agreement to sell the assets of its Lexington, Ky., facility to CoorsTek Inc., a global manufacturer of advanced ceramics materials.

The Lexington plant is part of the United Kingdom group's armor business and was acquired through Avon Protection's takeover of 3M's ballistic protection business in 2020.

The facility is focused on manufacturing ceramic plates, an essential component of body armor and aircraft armor.

In a statement Dec. 5, the U.K. manufacturer of protective products said the deal was concluded "for a modest cash consideration."

Avon announced plans to wind down its body and flat armor business in December last year, following "an in-depth strategic review."

CoorsTek, according to Avon, is "an established supplier" to the aerospace and defense industry and has invested over $50 million in the business over the past two years.

Avon expects to complete the transaction in the second half of its 2023 financial year, which started Oct. 1.

The U.K. company said it has fulfilled its final contractual obligations with its customers in line with the agreed wind-down plan.

"We are delighted to announce the sale of the Lexington facility today, which provides a future for the facility and the team based there," Avon Executive Chair Bruce Thompson said.

The divestment will allow Avon to focus on "core capabilities" to deliver respiratory and head protection solutions, he added.