Hexagon Composites announces sale of Hexagon Ragasco to Worthington Enterprises and acquisition of 49% of Worthington Enterprises’ Sustainable Energy Solutions business segment
Oslo, Norway, 29 May 2024: Hexagon Composites ASA (OSE: HEX.OL) announces the signing of two definitive agreements with Worthington Enterprises (NYSE: WOR). Sale of Hexagon RagascoWorthington Enterprises will acquire 100% of Hexagon Ragasco at an enterprise value of NOK 1,050 million. Depending on the full year 2024 performance of Hexagon Ragasco, the value may be adjusted between minus NOK 50 million to plus NOK 100 million. Hexagon Ragasco is the market leader in LPG composite cylinders used for leisure, household, and industrial applications with production in Norway and sales