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Hexagon Purus ASA has agreed to sell its aerospace business, Hexagon Masterworks Inc., to SpaceX for an enterprise value of approximately $15 million. The sale includes 100% of Masterworks, which produces high-pressure composite storage cylinders for aerospace and hydrogen applications in North America.

The hydrogen segment will remain with Hexagon Purus. The transaction includes a cash payment of $12.5 million at closing and a potential earn-out of $2.5 million. This divestment supports Hexagon's financial position and strategic focus.