Hexagon Composites Unit Wins US Order for Natural Gas Fuel Systems.

Hexagon Composites has secured a large order for compressed natural gas fuel systems from Gillig in the US. The company's subsidiary, Hexagon Agility, will supply the systems for 476 new buses in Dallas, TX. The order is valued at $21 million. Hexagon Composites ASA has also completed a NOK75 million share buyback program and authorized a new equity buyback of up to 4 million shares.

Hexagon Composites ASA (OB:HEX) has recently secured a significant order for compressed natural gas (CNG) fuel systems from Gillig in the United States. The order, valued at $21 million, is set to supply 476 new buses in Dallas, TX, with the company's subsidiary, Hexagon Agility, handling the delivery. This latest contract highlights the company's growing presence in the alternative fuels market and its commitment to sustainable energy solutions.

In addition to this order, Hexagon Composites ASA has also completed a NOK75 million share buyback program and authorized a new equity buyback of up to 4 million shares. The completion of the share buyback program reflects the company's confidence in its financial health and growth prospects. The authorization of a new buyback program signals a continued focus on shareholder value and potential future growth opportunities.

Hexagon Composites' strategic acquisitions and investments in alternative fuels, as well as its robust order pipeline, underscore its commitment to sustainable energy solutions and its potential for long-term growth. The company's recent financial results and analyst recommendations also indicate positive sentiment among investors.

References:
[1] https://www.marketscreener.com/news/hexagon-composites-unit-lands-natural-gas-fuel-systems-order-in-us-ce7c5fd8db88fe26
[2] https://finance.yahoo.com/news/sydbank-share-buyback-programme-transactions-080800361.html