Hanwha Solutions to acquire Cimarron Composites for $18m.

Hanwha Solutions, a company operating in chemicals, total energy solutions, and advanced materials industries, agreed to acquire Cimarron Composites, a developer and producer of high quality, state-of-the-art composite products for a broad range of applications, for $18m. "The acquisition is currently being reviewed by the Committee on Foreign Investment in the United States. We intend to complete the acquisition by April of 2021. Including the acquisition costs, we plan to invest at least USD 100 million in Cimarron Composites by 2025 to establish a strong foundation from which to develop our global hydrogen tank business," Hanwha Solutions.