) wholly-owned subsidiary Ceradyne, Inc. recently secured an $80
million delivery order from the U.S. government to supply 77,000
enhanced combat helmets and related spare parts to the U.S.
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Ceradyne has already started producing the helmets for delivery
starting this fall and will be deploying Marines in the first
quarter of fiscal 2014. The order is part of the procurement
program of the U.S. Marine Corps and the U.S. Army.
The newly-designed Enhanced Combat Helmet will be manufactured at
Ceradyne's facility in California. A combat helmet or battle
helmet is a type of personal armour that is designed specifically
to protect the head during combat. These combat helmets provide
improved 50% ballistic and fragmentation protection over other
available variants. 3M has a strong expertise and knowledge to
supply protection helmets to the U.S. forces. Additionally, the
company also makes combat hearing and respiratory protection,
body armour and communications systems for the U.S. forces.
3M remains focused on inventing new products and maintaining its
competitive edge globally. The rise in demand of such innovative
3M product services is likely to augment its revenues in future.
Together with its subsidiaries, 3M operates as a diversified
technology company with manufacturing operations across 70
countries worldwide. The company aims to deliver innovative
security solutions to businesses and governments worldwide; thus
maintaining the security of people and documents.
3M currently has a Zacks Rank #3 (Hold). Other stocks that look
promising and are worth a look now are
Federal Signal Corp
SB Industries Inc
), each carrying a Zacks Rank #2 (Buy).