This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Brady Corporation actively markets MIL-spec identification products to the defense sector through a dedicated military-defense solutions line. Products include MetalPhoto anodized aluminum tags meeting MIL-STD-130N, MIL-A-8625F, MIL-DTL-15024F, and GGP-445B specifications, as well as wire markers meeting MIL-STD-1247C and MIL-T-9906C for shipboard and aircraft wiring. The company's website features a purpose-built military-defense identification solutions portal. Brady does not disclose defense revenue as a percentage of its $1.3 billion total revenue, but the dedicated product line and marketing constitute purpose-built military identification goods rather than incidental industrial supply.
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A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
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