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Hexagon Composites (Ålesund, Norway) and Mitsui & Co. Ltd. (Tokyo, Japan), active world-wide in a wide range of sectors including clean energy and mobility, have extended a strategic alliance agreement until March 20, 2030, the date on which Mitsui’s shareholding in the company falls below a certain shareholding ratio. The agreement was memorialized on Aug. 15 by Philipp Schramm, CEO of Hexagon Composites and Katsuto Kawahara, general manager of Mitsui’s Functional Materials Division and Performance Materials Business Unit.
Mitsui and Hexagon Composites have developed a close partnership over decades centered around the drive to accelerate and develop composite technologies. The original strategic alliance agreement was signed in 2016, and Mitsui has been a major shareholder in Hexagon Composites since.
“Mitsui’s support as a strategic partner and shareholder has been essential to the development of Hexagon,” says Schramm. “Over the past decade, Mitsui’s industrial expertise and global reach, have helped us set a benchmark in the industry and accelerate the adoption of alternative fuels. We look forward to continuing to leverage our synergies to drive the energy transition forward.”
Currently, Mitsui holds 33,229,096 shares in Hexagon Composites, which corresponds to 15.8% of the total shares.
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