The Norwegian company Hexagon Purus wants to take over the German supplier Wystrach, which specialises in high-pressure systems and hydrogen technology. The purchase price is up to 43.3 million euros.
The transaction is expected to be completed in the fourth quarter of 2021. The two are already linked by “many years of successful cooperation”. Among other things, Hexagon Purus has been supplying Wystrach with high-performance containers for various applications since 2008.
Hexagon Purus is a supplier of high-pressure tanks, fuel storage and distribution systems as well as battery packs and electric powertrain solutions for commercial vehicles. The company’s European production site for tanks is located in Kassel, Germany. Wystrach, on the other hand, sees itself as a “specialist for complex high-pressure systems” and develops, among other things, steel construction and piping for hydrogen plants.
The takeover is intended to combine the capabilities of the respective companies. Wystrach, with its facility in Weeze, will become Hexagon Purus’ main site for the assembly of hydrogen systems, while Hexagon Purus’ container production will remain at the Kassel site.
The transaction is expected to close in the fourth quarter of 2021, subject to the satisfaction of certain closing conditions and receipt of customary approvals.
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