Hexagon Composites — M&A Activity 2020

Jul 29, 2020

Hexagon Purus to produce high-performance cylinders for a major new aerospace customer - continuing the drive to modernize spaceflight

Hexagon Purus to produce high-performance cylinders for a major new aerospace customer - continuing the drive to modernize spaceflight

Hexagon Purus, a subsidiary of Hexagon Composites, has been awarded a contract

for the design, development, qualification and production of high-performance

Type 4 composite pressure vessels to a new major aerospace customer for its

launch vehicle. The total sales value of the current order is approximately USD

5.2 million (approx. NOK 48 million). Future orders are expected to follow the

successful delivery of the first shipment.

Driving energy transformation

This is the second project that Hexagon Purus has collaborated on in the

aerospace industry in the past two years. Hexagon Purus' smart technology

combined with its world leading expertise in lightweight, reliable and safe

high-pressure gas storage is being leveraged to support pioneering developments

in space travel.

"We are excited to be working on this project and to be partners in the future

of spaceflight," says Jim Harris, Managing Director, Hexagon Purus.

Timing

The pressure vessels are due to be delivered in the first quarter 2021.

Contacts:

Karen Romer, SVP Communications, Hexagon Composites

Telephone: +47 950 74 950 | karen.romer@hexagongroup.com

David Bandele, CFO, Hexagon Composites

Telephone: +47 920 91 483 |?david.bandele@hexagongroup.com

About Hexagon Purus

Hexagon Purus, a Hexagon Composites company, enables zero emission mobility for

a cleaner energy future. Hexagon Purus is a world leading provider of Hydrogen

Type 4 high-pressure cylinders, complete vehicle systems and battery packs for

fuel cell electric and battery electric vehicles (FCEV and BEV) including hybrid

mobility applications on light, medium and heavy-duty vehicles, transit buses,

ground storage, distribution, marine, rail, aerospace and backup power

solutions.

Hexagon MasterWorks, a unit within Hexagon Purus, has over 20 years of

experience with new composite product design, process development, and

production supporting aerospace, automotive, energy, and manufacturing markets.

Together with our sister Hexagon facilities worldwide, there is over 50 years of

experience designing, developing, qualifying, and producing both commercial and

aerospace pressure vessels.  We use proven design and continuous improvement

methodologies to custom engineer our products to meet our customer's exacting

requirements.

Learn more at www.hexagongroup.com and follow @HexagonASA on Twitter and

LinkedIn.