Composites products maker Hexagon Composites ASA will acquire Xperion Energy & Environment, a manufacturer of type 4 high pressure cylinders and which also is a wholly owned subsidiary of Avanco GmbH. The acquisition is expected to help Hexagon Composites strengthen its global market presence and further broaden its product and technology portfolio.
The Xperion portfolio of products includes high pressure composite cylinders for light-duty vehicles, heavy-duty trucks, transit buses and gas transportation solutions, which it produces at its plants in Germany and USA.Composites products maker Hexagon Composites ASA will acquire Xperion Energy & Environment, a manufacturer of type 4 high pressure cylinders and which also is a wholly owned subsidiary of Avanco GmbH. The acquisition is expected to help Hexagon Composites strengthen its global market presence and further broaden its product and technology portfolio.#
In 2015, the group reported net sales of €39 million and adjusted EBITDA of €5.2 million, while employing 140 persons at its two plants.
According to Hexagon, by securing manufacturing capacity in Germany, it is expanding its position in Europe considerably and will now have production units in Germany, USA and Norway. (AR)
Fibre2Fashion News Desk – India
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