Hexagon Composites Completes Internal Reorganisation

| Norway, Ă…lesund

Hexagon Composites, through its various daughter companies, is a manufacturer of composite pressure vessels and systems. Since February this year the company has undertaken an internal restructuring, now complete. The product area for CNG Passenger Cars has been spun off from Ragasco AS and merged with Raufoss Fuel Systems AS. At the same time, the acquirer has changed its name from Raufoss Fuel Systems AS to Hexagon Raufoss AS. The new segment reporting will come into effect from 1 October.

The reorganisation will allow Ragasco AS to fully concentrate on LPG containers in the future. The expanded High Pressure area will concentrate on maintaining its leading position in a strongly growing CNG market, and extracting synergies between the European and American markets.

Tore J. Fjell will continue as the Managing Director of Hexagon Raufoss AS. Ragasco AS and Hexagon Raufoss AS will remain located in Raufoss Business Park. The reorganisation will not entail any changes in the staffing situation.

(This article compiles using information from a Hexagon Composites Group press release)

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