Hexagon Composites - M&A Activity 2014

Hexagon Composites agrees the sale of Hexagon Devold to Saertex

Hexagon Composites ASA has today agreed to sell all its shares in the wholly-

owned subsidiary Hexagon Devold AS to the German company SAERTEX GmbH & Co. KG

("SAERTEX"). The closing of the transaction will take place on the 30(th) of

January.

SAERTEX will pay NOK 115 million for the transaction plus any net change in

equity in fourth quarter 2013, for equity and internal long-term debt. The total

cash effect for Hexagon Composites is estimated to be approximately the same.

The transaction is estimated to give a small profit (from book value) after

transaction costs. A long-term external debt in Hexagon Devold's subsidiary in

Lithuania of NOK 16.8 million will be transferred to the new owner.

SAERTEX is a global market leader in multiaxial fabrics with main markets in

wind energy, aerospace, civil engineering, automotive and shipbuilding. SAERTEX

is a privately owned company with turnover of EUR 250 million. Their head-

quarters are located in Saerbeck, Germany, with production facilities in

Germany, France, Portugal, US, Brazil, South Africa, India and China. SAERTEX

will keep Devold AMT as a parallel brand and continue present operations in

Lithuania, US and Norway.

Hexagon Devold had turnover during the first three quarters of 2013 of NOK 133

million, EBIT of NOK 4.9 million, assets of NOK 206 million and liabilities of

NOK 194 million. The company has 125 employees.

"We are very satisfied that the transaction with SAERTEX is concluded. SAERTEX

is one of the leading players in the multiaxial fabrics industry and the

transaction will give Hexagon Devold and its employees a strong industrial

owner", comments Senior Vice President Tore J. Fjell. «The transaction will

enable Hexagon Composites to focus on its core business areas within the

strongly growing high pressure and LPG-cylinder segments."

For more information:

Tore J. Fjell, Senior Vice President, Hexagon Composites ASA

Telephone: +47 920 33 337 | [email protected]

Solveig D. Saether, Communication Manager, Hexagon Composites ASA

Telephone: +47 906 34 977 | Email: [email protected]

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1755149]

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