Hexagon Composites (HXGCF) has released an update.
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Hexagon Composites ASA has sold its subsidiary Hexagon Ragasco, a leader in LPG composite cylinders, to Worthington Enterprises for an enterprise value of NOK 1,050 million, with adjustments based on 2024 performance. Concurrently, Hexagon is acquiring a 49% stake in Worthington’s Sustainable Energy Solutions segment, which specializes in high-pressure cylinders, for USD 20 million. These strategic moves align with Hexagon’s focus on high-pressure, clean energy solutions.
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