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Hexagon Composites acquires xperion
Reinforced Plastics Volume 00, Number 00 December 2016
BUSINESS
Business Hexagon Composites acquires xperion Hexagon Composites ASA, which produces composite pressure cylinders for gaseous alternative energy, has entered into an agreement with Avanco GmbH to acquire its wholly owned subsidiary, xperion Energy & Environment, a manufacturer of Type 4 high pressure cylinders, for around s40 million. The acquisition will enable Hexagon Composites to expand its position in Europe. The integrated group will now have modern and
specialized production units in Germany, USA and Norway. The xperion group includes highpressure composite cylinder operations for light-duty vehicles, heavy-duty trucks, transit buses and gas transportation solutions at its modern production plants in Kassel, Germany and Ohio, USA. In 2015, the group recognized net sales of s39 million. The two operations have 140 employees.
‘This acquisition represents another significant step in our growth strategy,’ said Jon Erik Engeset, president and CEO of Hexagon Composites. ‘Hexagon Composites is one of the leading players in the composite pressure cylinder market, and the transaction will give xperion and its employees a strong industrial owner,’ added Holger Garbrecht, CEO of AVANCO Group. Hexagon Composites; www.hexagon.no
0034-3617/http://dx.doi.org/10.1016/j.repl.2016.12.041
1 Please cite this article in press as: Reinf. Plast. (2016), http://dx.doi.org/10.1016/j.repl.2016.12.041
BUSINESS
Business Hexagon Composites acquires xperion Hexagon Composites ASA, which produces composite pressure cylinders for gaseous alternative energy, has entered into an agreement with Avanco GmbH to acquire its wholly owned subsidiary, xperion Energy & Environment, a manufacturer of Type 4 high pressure cylinders, for around s40 million. The acquisition will enable Hexagon Composites to expand its position in Europe. The integrated group will now have modern and
specialized production units in Germany, USA and Norway. The xperion group includes highpressure composite cylinder operations for light-duty vehicles, heavy-duty trucks, transit buses and gas transportation solutions at its modern production plants in Kassel, Germany and Ohio, USA. In 2015, the group recognized net sales of s39 million. The two operations have 140 employees.
‘This acquisition represents another significant step in our growth strategy,’ said Jon Erik Engeset, president and CEO of Hexagon Composites. ‘Hexagon Composites is one of the leading players in the composite pressure cylinder market, and the transaction will give xperion and its employees a strong industrial owner,’ added Holger Garbrecht, CEO of AVANCO Group. Hexagon Composites; www.hexagon.no
0034-3617/http://dx.doi.org/10.1016/j.repl.2016.12.041
1 Please cite this article in press as: Reinf. Plast. (2016), http://dx.doi.org/10.1016/j.repl.2016.12.041