Hexagon Composites takes full ownership of Worthington’s SES business
Cylinder technology specialist Hexagon Composites ASA has acquired the remaining 51% stake in SES Composites, a European manufacturer of high-pressure composite cylinders for gas storage and transport, giving it full ownership of the business.
Hexagon previously held a 49% stake in SES Composites, which was part of Sustainable Energy Solutions (SES), the alternative fuels subsidiary of Ohio-based industrial manufacturer Worthington Enterprises.
The transaction is valued at €6.1m for the 51% stake not already owned by Hexagon Composites.
SES Composites manufactures composite cylinders in Słupsk, Poland, and operates a valve assembly facility in Burscheid, Germany.
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