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Hexagon Composites ASA has decided to bolster the Group's LPG and CNG container operations in Norway by separating the product area CNG passenger cars from Ragasco AS and merging it with Raufoss Fuel Systems AS operation within CNG bus and bulk transport. The reorganization will help Ragasco to fully concentrate on LPG containers in the future.
To strengthen the product area for CNG passenger cars, Dr. Ing. Ragnar Holthe has been appointed head of this area. Holthe was formerly Manager R&D at Benteler Aluminium Systems and will take up his position on 1 May 2012. The area will be further strengthened through several appointments.
Hexagon Composites ASA Group President Erik Espeset points out that the move will enable the Group to streamline its product areas. Ragasco will henceforth concentrate on the product area for LPG containers. The expanded High-pressure area will concentrate on maintaining its leading position in a rapidly growing CNG market, and deriving synergies from the European and American operations.
Both companies are located in Raufoss Industrial Park. The reorganization will not entail any terminations.
The new company for CNG containers in Norway will be run by Tore J. Fjell, who is currently Senior Vice President in Hexagon Composites and Managing Director of Raufoss Fuel Systems AS.
About Hexagon Composites ASA
Hexagon Composites ASA is a publicly listed company with its headquarters in Ålesund, Norway. The Group employs 371 people and had a turnover of NOK 846 million in 2010. The Group develops and manufactures composite containers for the storage and transport of various gases under pressure and multiaxial composite reinforcements.
More information : www.hexagon.no