Hexagon Composites sees increased Mobile Pipeline® investment in Latin America with substantial order to Mexico

01.07.2016  Stock Exchange Release

This month Hexagon Composites' wholly owned subsidiary Hexagon Lincoln will deliver a second set of TITAN® 4 modules to Energex Grupo Energeticos in Monterrey, Mexico. A first set of modules were delivered in March of 2016, and two more sets are scheduled for July and November of this year. The total value of the order is USD 6.75 million (approximately NOK 56 million).

Grupo Energeticos is the premium fuel and energy distributor in Mexico. It is seeing increased demand for cleaner burning natural gas as the preferred choice over other fuels as it allows companies to comply with environmental regulations at competitive prices and it improves operating advantages over other liquid fuels.

"We are committed in assuring the best energy solutions to our customers," says Cesar H. Cadena, CEO of Grupo Energeticos. "Hexagon Composites' SMARTSTORE® and TITAN® products have proven to be essential in our Mobile Pipeline® endeavor while the country builds up its infrastructure. Hexagon Composites is one of our most trusted key partners and we expect more joint cooperation as we continue to expand our business."

"As Grupo Energeticos continues its natural gas expansion, we are proud to remain the trusted and sole supplier of their Mobile Pipeline® solutions." says Frank Häberli, Vice President Mobile Pipeline® Division. "Together we are shaping a new industry of clean and affordable energy in Mexico."

For more information:
Frank Häberli, Vice President Mobile Pipeline® Division, Hexagon Lincoln, Inc
Telephone: +1 402 326 5586 | frank.haeberli@hexagonlincoln.com

Solveig D Saether, Communication Manager, Hexagon Composites ASA
Telephone: +47 906 34 977 | solveig.saether@hexagon.no

Hexagon Composites ASA is a publicly listed company with its headquarters in Aalesund, Norway. The Group develops and produces composite pressure cylinders and systems for storage and transportation of various gases.

Follow us on Twitter: @HexagonASA and @TITAN_Tank

 

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.


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