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3M to buy Johnson Control's safety gear business
March 16, 2017 / 12:36 PM / 9 months ago

3M to buy Johnson Control's safety gear business

March 16 (Reuters) - 3M Co said on Thursday it would buy Johnson Control International Plc’s safety gear business, Scott Safety, in deal with an enterprise value of $2 billion.

Scott Safety manufactures respiratory and protective equipment and other safety products for firefighters, industrial workers, police squads and the military.

The business had annual revenues of about $570 million in 2016, 3M said.

Johnson Controls, which manufactures products ranging from car batteries to heating equipment, had been exploring a sale of the business, Reuters had reported last week. (Reporting by Arunima Banerjee in Bengaluru; Editing by Savio D‘Souza)

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