Avon Protection, which has been conducting a “strategic review” of its body armour business, plans to disclose the outcome of that review on 15 December, according to a spokesperson for the UK-based company.
The disclosure will coincide with Avon's release of its fiscal year (FY) 2021 financial results, the spokesperson told Janes on 2 December.
Avon announced in mid-November that it was launching the review after the body armour business experienced problems with products intended for two US customers.
During first article testing of body armour plates being developed for the US Army, a failure occurred, “which will significantly delay the likely approval timetable for this product”, Avon said.
Avon has also experienced delays in obtaining approval for body armour plates destined for the US Defense Logistics Agency. Approval for that product is expected in the January–March 2022 quarter.
In light of these setbacks, the body armour business' contribution to Avon's FY 2022 financial results and beyond will be “significantly reduced”, with the ultimate impact depending on the outcome of the review, the company said. Avon had expected to generate about USD40 million in body armour revenue in FY 2022.
Avon said its helmet and respiratory protection portfolios are unaffected by the body armour problems.
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