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Hexagon Composites ASA completed the full acquisition of SES Composites, the alternative fuels business of Worthington Enterprises, after previously holding a 49% stake. The unit supplies high-pressure cylinders and systems for gas storage. Financial terms were not disclosed.
Worthington Enterprises signed an agreement to acquire 100 percent of Hexagon Ragasco, a maker of composite LPG cylinders in Raufoss, Norway, for approximately $98 million, with closing expected around June 3, 2024.
Worthington Industries has acquired PTEC Pressure Technology GmbH, a German designer and maker of valves and components for hydrogen and CNG storage systems, based in Burscheid, Germany. The company has 11 employees.
Palmer Manufacturing and Tank will invest $16 million in its Garden City, Kansas manufacturing facility, which was re-acquired by its original owner, and grow to employ 201 people within three years.
