3M Co. has finalized a sale of its military armor business to Avon Rubber for $91 million, the company announced Thursday.

About 280 3M employees will join U.K.-based Avon as part of the deal, 3M said.

The sale was first announced in August, when 3M said the sale of its Advanced Ballistic-Protection Business could be worth up to $116 million depending on whether the business won some pending contracts. Those contracts are still pending, though that extra $25 million can still be paid out, 3M said. The armor business, which sells helmets and armor made of bullet-resistant polyethylene fibers, generates about $85 million annually. Read More