3M to buy Johnson Control's safety gear business
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)