Avon Rubber seals Argus deal

(ShareCast News) - Avon Rubber has completed the acquisition of Argus thermal imaging camera business from e2v technologies for £3.5m.The London-listed group said the deal for the Essex-based group, which posted revenue of £5m in the last financial year, was funded from existing debt facilities."Argus is a strategic addition to our fire and first responder product range and we expect the acquisition to be modestly earnings enhancing during the current financial year."The Argus team brings a wealth of technical expertise in this area which will generate longer term product development opportunities for the Protection & Defence business."Avon shares were up 1.45% to 1,050.00p at 0915 BST on Friday.