3M to buy Johnson Control's safety gear business

FeaturesReuters

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.

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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)