Hexagon Composites awarded new major order in Iraq

07.08.2017  Stock Exchange Release

Hexagon Composites' subsidiary Hexagon Ragasco has received a new major order for LPG cylinders from Gas Filling Company (GFC) at a total value of around USD 15 million (approximately NOK 120 million). Deliveries are scheduled to commence in fourth quarter of 2017 and continue through first quarter of 2018.

With this order, Iraq is expanding its already large fleet of composite LPG cylinders for the domestic market.

"The Middle East is an important market for us. The region continues to invest in lightweight composite cylinders that will help to make domestic use of LPG safer and more user-friendly," says Skjalg S. Stavheim, Managing Director of Hexagon Ragasco.

For more information:
Skjalg S. Stavheim, Managing Director, Hexagon Ragasco AS
Mobile: +47 977 95 565 | skjalg.stavheim@hexagonragasco.com

David Bandele, CFO, Hexagon Composites ASA
Telephone: +47 920 91 483 | david.bandele@hexagon.no

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

About Gas Filling Company (GFC)
Gas Filling Company (GFC), one of the Iraqi Ministry of Oil companies, is responsible for the filling and distribution of liquefied petroleum gas (LPG) in Iraq. The company plays an important role in supplying the Iraqi market with LPG.

About Hexagon Composites Group
Hexagon Ragasco is the world's leading manufacturer of composite LPG cylinders with more than 12 million units in commercial use. The high-volume, highly automated production facility in Raufoss, Norway is the most advanced of its kind world-wide. Hexagon Ragasco's products are unique and provide many advantages over traditional steel cylinders in terms of safety and user-friendliness.

Hexagon Ragasco is a wholly-owned subsidiary of Hexagon Composites ASA, a leading global supplier of composite pressure cylinders for gas applications. Hexagon Composites ASA is a publicly listed company with its headquarters in Aalesund, Norway.

For additional information, please visit: www.hexagon.no

Follow us on Twitter: @HexagonASA

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


STOCK EXCHANGE RELEASES