The two companies are well positioned in the hydrogen value chain with recent orders received for car, bus and railroad applications. The environmental value proposition of CNG, biogas (biomethane/RNG) and hydrogen continues to stimulate demand in markets world-wide. “This is a future-oriented step, and we are convinced that both organizations will complement each other, enabling an optimal position in terms of markets and products.” “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”, comments Holger Garbrecht, CEO of AVANCO Group. We are confident that the acquisition will increase our competitiveness, market penetration and shareholder value and is well-timed given the current industry conditions.” “We are impressed with how xperion has developed a highly competent international organization. “This acquisition represents another significant step in our growth strategy,” says Jon Erik Engeset, President & CEO of Hexagon Composites. The integrated Group will now have modern and specialized production units in Germany, USA and Norway. By securing manufacturing capacity in Germany, Hexagon Composites is expanding its position in Europe considerably.
Hexagon Composites operates some of the world’s most advanced facilities for designing, testing and manufacturing all-composite cylinders for gas applications. Hexagon Composites is a global leader in composite pressure cylinders for gaseous alternative energy. xperion Energy & Environment is a market leader in Type 4 high pressure cylinders. Specifically, Hexagon Composites ASA, through a wholly owned subsidiary Hexagon Composites Germany GmbH, has acquired 100% of the share capital of xperion Energy & Environment GmbH and its subsidiary companies from the selling company xperion Holding GmbH, a wholly owned subsidiary of AVANCO GmbH. The acquisition will enable Hexagon Composites to strengthen its global market presence and further broaden its gas storage product and technology portfolio.
Norway’s Hexagon Composites ASA has enhanced its commitment to alternative energy by entering into an agreement to acquire German company xperion Energy & Environment.
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