Hexagon Composites Completes Acquisition of SES Composites
Hexagon Composites Completes Acquisition Successfully
Hexagon Composites is pleased to announce that the acquisition of SES Composites has been successfully finalized. This marks a significant milestone for the company as it strengthens its position within the clean energy sector.
The Acquisition Details
The completion of this acquisition included purchasing the remaining shares for a total of EUR 5.1 million. The settlement was achieved through the issuance of 1,772,304 Hexagon Composites ASA shares and 16,364,607 Hexagon Purus ASA shares. This strategic move positions Hexagon Composites ASA with a holding of 148,214,226 shares in Hexagon Purus, representing 34.6% ownership, alongside 544,859 treasury shares.
Leadership Insights
David Bandele, the CFO of Hexagon Composites, emphasized the importance of this acquisition for their growth strategy. He remarked that this acquisition not only reflects their commitment to expanding into innovative markets but also enhances their capabilities in providing advanced solutions for clean energy.
About Hexagon Composites
Hexagon Composites is devoted to delivering safe and pioneering solutions aimed at a cleaner energy future. They focus on technologies that enable the storage and transportation of clean energy, which is vital for various industrial and mobility applications. By continuously investing in groundbreaking technologies, Hexagon aims to lead the industry towards a sustainable future.
Innovative Solutions for Clean Energy
Hexagon Composites stands out in the market with its commitment to innovation and safety. Their solutions cater to numerous applications, ensuring that businesses and communities can transition to clean energy reliably.
Expansion into New Markets
This acquisition allows Hexagon Composites to broaden its market reach. With enhanced resources and technologies, they are well-equipped to serve a larger clientele and address the increasing demand for sustainable energy solutions.
Frequently Asked Questions
What does Hexagon Composites do?
Hexagon Composites specializes in providing solutions for safe storage and transportation of clean energy.
What was the total payment for SES Composites?
The total payment for the acquisition was EUR 5.1 million, settled through shares.
How does this acquisition impact shareholders?
Shareholders benefit from increased market presence and a stronger competitive edge in the clean energy sector.
Where can I learn more about Hexagon Composites?
More information can be found on their official website, which provides extensive details about their services and initiatives.
Who should I contact for investor inquiries?
For investor-related questions, reach out to David Bandele, CFO, via the provided contact details.
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