Hexagon Composites awarded new major order in Qatar

22.04.2014  Stock Exchange Release

Hexagon Composites' wholly-owned subsidiary Hexagon Ragasco has received an order of USD 12.7 million (around NOK 104 million) for the supply of LPG cylinders to Qatar. The order is for delivery in the second half of 2014. This is one of the largest orders for Hexagon Ragasco so far.

To secure growth and improved capacity utilization in the second half of the year, Hexagon Ragasco has focused on selected markets outside Europe. «This order is a confirmation that our low-pressure composite cylinders to an increasing degree are viewed as a preferred alternative to traditional steel cylinders,» says Skjalg S. Stavheim, Managing Director with Hexagon Ragasco. «Qatar is an important market for us. It is being invested in composite cylinders that will help to make domestic use of LPG safer and more user-friendly.»

For further information:
Solveig D Saether, Communication Manager, Hexagon Composites ASA
Telephone: +47 906 34 977 | E-mail: solveig.saether@hexagon.no

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