Please see attached document.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, HONG KONG OR JAPAN OR THE UNITED STATES, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.
Reference is made to the stock exchange notice in relation to the Written Resolution dated November 17 2020, proposing, amongst other items, a waiver from the dividend restriction to enable the transfer of up to 15% of the Company’s shares in Hexagon Purus to the shareholders of the Company, in conjunction with the intended Spin Off of Hexagon Purus.
Hexagon Composites ASA (“Hexagon”) has requested Nordic Trustee AS as Bond Trustee to issue a notice of written resolution in respect of its NOK 1,100,000,000 senior unsecured bond issue, HEX03 - ISIN NO0010846280 (the "Bond"), in the context of proposing certain amendments to the terms of the Bond as set out in the attached notice of the written resolution.
The extraordinary general meeting of Hexagon Composites ASA was held today, Friday 13 November 2020 in Aalesund, Norway.
Hexagon Purus has signed a multi-year master frame agreement with Everfuel to deliver multiple units of newly designed 45-foot, hydrogen distribution systems. The systems will be used to transport hydrogen to refueling stations serving hydrogen fuel cell electric passenger car fleets (e.g. taxis), trucks and buses, driving the transition to green hydrogen in several European cities. At signing, Everfuel ordered its first six distribution units under the new frame agreement.
Reference is made to the stock exchange announcement issued by Hexagon Composites on 22 September 2020, regarding our Virtual Capital Markets Day on 17 November 2020.
In the third quarter of 2020, Hexagon Group generated NOK 770 (770) million in revenues and recorded an operating profit before depreciation (EBITDA) of NOK 65 (49) million. Hexagon Ragasco results remained robust and Agility experienced a record strong quarter as it recovered from the sharp impacts of the global pandemic in the previous quarter. Hexagon Mobile Pipeline, however, remained impacted by the pandemic and resulting macro factors, as well as lower North American onshore oil and gas activity.
Hexagon Purus, a subsidiary of Hexagon Composites, has been awarded a purchase order by Hino Trucks, a Toyota Group company, for three trucks as part of their development plan for Project Z.
Hexagon Purus has signed a contract with Stadler Rail to develop cylinder storage system for the first hydrogen commuter train in the U.S.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, JAPAN, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA OR THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSESSIONS, ANY STATE OF THE UNITED STATES OF AMERICA AND THE DISTRICT OF COLUMBIA) OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.
An Extraordinary General Meeting of Hexagon Composites ASA will be held on 13 November 2020 at 13:00 CET at the company’s offices in Korsegata 4B, Aalesund, Norway.
Hexagon Composites (“The Company”), as reported in its Stock Exchange Release of 8 October 2020, approached Bondholders in regards to its senior unsecured bond issue (HEX03 - ISIN NO NO0010846280), detailing a proposal to amend the terms of the Bond to ring-fence Hexagon Purus from the definition of the Hexagon Group and permit a one-time non-cash distribution of up to 25% of the shares of Hexagon Purus to existing Hexagon Composites ASA shareholders.
Hexagon Composites ASA’s third quarter 2020 results will be released on 6 November 2020, 07:00 CET.
Reference is made to the stock exchange release made on 8 October 2020 by Hexagon Composites ASA (“Hexagon” or the “Company”) regarding a notice of written resolution in respect of its senior unsecured bond issue, HEX03 - ISIN NO NO0010846280. Hexagon has been notified by Nordic Trustee AS as Bond Trustee that the proposal has received a sufficient number of negative votes for the proposal to be rejected prior to the expiry of the voting period. The proposed amendments to the terms of the bond are thus withdrawn.
Hexagon Composites ASA (“Hexagon” or the “Company”) has requested Nordic Trustee AS as Bond Trustee to issue a notice of written resolution in respect of its NOK 1,100,000,000 senior unsecured bond issue, HEX03 - ISIN NO NO0010846280 (the "Bond"), in the context of proposing certain amendments to the terms of the Bond, as set out in the attached copy of the notice and presentation prepared in connection with the written resolution.
Sindre Rotevatn, Senior Finance Manager and primary insider in Hexagon Composites, has today transferred the ownership of 7,000 shares in Hexagon Composites from his company Bonsens AS to him personally. The company is 100% controlled by Sindre Rotevatn.
Hexagon Composites will host a virtual Capital Markets Day on Tuesday 17 November 2020, from 09:00-12:00 CET.
The H2Bus Consortium announces an agreement with Wrightbus for the supply of hydrogen fuel cell electric buses in Europe. The H2Bus Consortium is now on track to deploy 1,000 hydrogen fuel cell electric buses, along with supporting infrastructure, in European cities at commercially competitive rates.
Karen Romer, SVP Communications in Hexagon Composites ASA, has on 31 August 2020, purchased 1,800 shares in Hexagon Composites ASA at an average price of NOK 52.75. Following this transaction, Ms. Romer holds a total of 1,800 shares in Hexagon Composites ASA.
Reference is made to the stock exchange notice published by Hexagon Composites ASA (the “Company”) on 24 August 2020 regarding the private placement of 18,329,064 new shares in a private placement (the "Private Placement"). The share capital increase pertaining to the new shares issued in the Private Placement has now been registered with the Norwegian Register of Business Enterprises. The Company's new registered share capital is NOK 20,161,971.20 divided into 201,619,712 shares each with a par value of NOK 0.10.
Reference is made to the announcement on 5 April, 2017, in which Hexagon Composites ASA (the "Company") announced the grant of 1,640,000 share options to employees under its employee share option program, each at a strike price of NOK 27 per share. Of the 1,640,000 options, 1,175,000 options were granted to senior executives and managers listed as primary insiders.
Hans Peter Havdal, board member in Hexagon Composites ASA, has on 25 August 2020, purchased 3,900 shares in Hexagon Composites ASA at an average price of NOK 51. Following this transaction, Mr. Havdal holds a total of 3,900 shares in Hexagon Composites ASA.
Reference is made to the stock exchange announcement on 24 August 2020, regarding the intended Spin Off and listing of Hexagon Purus.Jon Erik Engeset, CEO and Morten Holum, President Hexagon Purus will present Hexagon and the intended Spin Off today, 25 August 2020 in a webcast at 10:00 CEST.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OR ANYOTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.
A key automotive leader for Fuel Cell Vehicles (FCEVs) in Northeast Asia has nominated Hexagon Purus, a subsidiary of Hexagon Composites, for the serial supply of composite cylinders for their current zero-emission Fuel Cell Electric SUV. Hexagon Purus‘ cylinders will be installed in the vehicle model starting by 2022.
Hexagon Composites announces today the transfer of its Compressed Natural Gas Light Duty Vehicle (CNG LDV) activities from Hexagon Purus, to Hexagon’s gas-mobility (g-mobility) business. This transfer will establish Hexagon Purus as a pure e-mobility business.
Agility® Fuel Solutions (Agility), a business of Hexagon Composites and a leading global provider of clean fuel solutions for medium- and heavy-duty commercial vehicles, received a substantial order from longtime customer Anheuser-Busch. Over 180 new trucks equipped with Agility’s ProCab® 175 CNG Fuel Systems will be joining the fleet. The estimated total value of the order is over USD 8.0 million (approx. NOK 72 million).
In the second quarter of 2020, Hexagon Group generated NOK 683 (882) million in revenues and recorded an operating profit before depreciation (EBITDA) of NOK 19 (62) million. Profitability was reduced by the impacts of the global pandemic and resulting macro factors, particularly in Agility Fuel Solutions and Hexagon Mobile Pipeline businesses. Hexagon Ragasco experienced a strong quarter.
Hexagon Purus, a subsidiary of Hexagon Composites, has been awarded a contract for the design, development, qualification and production of high-performance Type 4 composite pressure vessels to a new major aerospace customer for its launch vehicle. The total sales value of the current order is approximately USD 5.2 million (approx. NOK 48 million). Future orders are expected to follow the successful delivery of the first shipment.
The Board of Directors of Hexagon Composites ASA ("Hexagon Composites" or the "Company") has decided to provisionally award up to 70 000 Restricted Share Units ("RSUs") under a Long-Term Incentive Program (LTIP) to align the interests of the participating employees with those of the Company's shareholders.
Hexagon Composites ASA’s second quarter and half-year results 2020 will be released on 12 August 2020 at 07:00 CEST.
Hexagon has been granted USD 2.6 million (approx. NOK 24 million) in initial funding by the U.S Department of Energy (DOE) to research how carbon fiber and composite structure can be optimized to reduce hydrogen and natural gas storage tank costs.
Hexagon Purus has signed a contract with a major US hydrogen fuel supplier and hydrogen refueling station operator to provide multiple X-STORE transport modules for the distribution of high-pressure hydrogen gas. The contract has an estimated value of USD 4.8 million (approx. NOK 45 million) and includes additional purchase options that, if exercised, will bring the total value of the contract to approximately USD 7 million (approx. NOK 65 million).
Hexagon Mobile Pipeline®, a Hexagon Composites subsidiary, has received a substantial contract for TITAN® 53 transport modules from Xpress Natural Gas LLC (XNG) a leading full-service provider of compressed natural gas (CNG). The strategic agreement has a total value of USD 7.3 million (approx. NOK 70.2 million) and includes additional purchase and rental options through 2021. The TITAN® 53 large-capacity Mobile Pipeline® modules will serve virtual interconnect projects providing natural gas to communities and industries that do not have access to sufficient pipeline capacity in the US.
Agility Fuel Solutions, a business of Hexagon Composites, has signed a master services agreement with a global logistics customer to deliver compressed natural gas (CNG) fuel systems for medium and heavy-duty trucks. The initial order represents an estimated total value of USD 2.2 million (approx. NOK 20.5 million) with additional orders expected to follow.
Dan Krick, SVP Organizational Development has sold 24,896 shares in Hexagon Composites ASA at a price of NOK 36,42 per share.
Hexagon Purus, a subsidiary of Hexagon Composites, has been awarded a contract to supply hydrogen systems to Toyota Motor North America (TMNA) for its newest prototype hydrogen-powered heavy-duty fuel cell electric truck powertrains. The total sales value of the order is approximately 1 million USD.
In the first quarter of 2020, Hexagon Group generated NOK 825 (822) million in revenues and recorded an operating profit before depreciation (EBITDA) of NOK 37 (150) million. This was driven by solid performances in Hexagon Ragasco LPG, Agility Fuel Solutions and Hexagon Mobile Pipeline. This performance helped to absorb the impacts of the planned production stop of a major customer of Hexagon Purus’ CNG Light-Duty Vehicles business, as well as initial COVID-19 impacts to the Group.
Hexagon Composites ASA today signed a term sheet for a strategic cooperation and joint venture agreement with CIMC ENRIC, a leading Chinese manufacturer of energy equipment (3899.HK), headquartered in Shenzhen, People`s Republic of China and listed on the Hong Kong stock exchange. CIMC ENRIC is a subsidiary of China International Marine Containers (Group) Co., Ltd. (CIMC), a global leading supplier of transportation solutions headquartered in Shenzhen and listed on the Shenzhen and Hong Kong Stock Exchanges (000038 SZ and 2039 HK). The Parties will now proceed towards a final agreement.
Quarterly earnings release:
The Board of Directors of Hexagon Composites ASA ("Hexagon Composites" or the "Company") has decided to provisionally award up to 3 711 634 Performance Share Units ("PSUs") under a Long-Term Incentive Program (LTIP).
The annual general meeting of Hexagon Composites ASA was held today, Wednesday 22 April 2020 in Aalesund, Norway.
Hexagon Composites ASA has appointed Karen Romer as Senior Vice President Communications. Karen will lead Hexagon’s Communications activities globally and will be the principal contact for the Company’s communication activities.
Norwegian Hydrogen AS, founded by Flakk Group and lead partner of the Hellesylt Hydrogen Hub consortium has successfully raised NOK 10.3 million in a capital increase.
Hexagon Purus has been awarded an order from Everfuel to deliver two new generation X-STORE high-pressure hydrogen distribution modules.
The annual general meeting of Hexagon Composites ASA will be held Wednesday 22 April 2020 at the Company's office in Korsegata 4B, Aalesund, Norway.
Reference is made to the stock exchange release dated 27 March 2020 regarding Hexagon Composites' share buy-back program.
The Board of Directors of Hexagon Composites ASA has resolved to acquire up to 1,000,000 own shares under the share buy-back program. The share buy-back program will be conducted in accordance with the applicable regulations of the Oslo Stock Exchange and within the mandate stated in the minutes from the Company's Annual General Meeting held on 24 April 2019, available at www.hexagongroup.com
The RNG Coalition recently announced new Advisory Boards and appointed Lynn Lyon, Vice President of Strategic Marketing at Hexagon to both their Consumer Access & Outreach and Education & Research Advisory Boards.
The Board of Directors of Hexagon Composites ASA (OSE:HEX) has approved the Annual Report for 2019 and the Final Accounts for 2019.
Agility Fuel Solutions, a business of Hexagon Composites, has been awarded an order from an existing U.S. based transit bus customer to deliver compressed natural gas (CNG) fuel storage systems. The order represents an estimated total value of USD 10.0 million (approx. NOK 115 million).
Hexagon Mobile Pipeline, a business of Hexagon Composites, has been awarded an order for two X-STORE® modules in the United Kingdom.
Hexagon Mobile Pipeline, a business of Hexagon Composites, has been awarded an order for TITAN® XL modules with an estimated value of USD 1.7 million (approx. NOK 16 million) from a leading gas distributor in Mexico.
David Bandele, CFO has sold 19,368 shares in Hexagon Composites ASA at a price of NOK 36.40 per share.
In the fourth quarter of 2019 Hexagon Group generated NOK 942.0 (426.8) million in revenues and recorded an operating profit before depreciation (EBITDA) of NOK 99.1 (55.2) million. This was driven by strong performances in Agility Fuel Solutions and Hexagon Purus’ CNG Light-Duty Vehicles business as well as Hexagon Ragasco. In the fourth quarter of 2019 depreciation and amortization increased to NOK 62.6 (35.9) million, primarily related to the inclusion of both tangible and intangible amortization from the Agility acquisition.
Agility Fuel Solutions and XStream Trucking have announced an agreement whereby Agility will be the exclusive distributor of Xstream’s TruckWingsTM aerodynamic systems for compressed natural gas (CNG) trucks in North America.
Hexagon Composites ASA (OSE:HEX) will report its fourth quarter and preliminary annual 2019 results on 12 February in Oslo.
Reference is made to the stock exchange announcement made on 12 June 2018 regarding the development and serial order for hydrogen tanks from an automotive OEM with an estimated order value of USD 120 to 150 million (approximately NOK 1.0 billion to 1.2 billion) over 7 years.
Mr. Dharmendra Pradhan, India’s Minister for Petroleum and Natural Gas, launched India’s first long distance compressed natural gas (CNG) bus on December 24, 2019 under a strategic program led by Indraprastha Gas Limited (IGL), the largest CNG distribution company in India. The launch ushers in CNG as the fuel of choice for long distance transportation in India.
The Hellesylt Hydrogen Hub, a consortium of leading players in the hydrogen field, including Hexagon, has been awarded NOK 37.6 million under the PILOT-E funding scheme for the development of a hydrogen production facility that can deliver hydrogen to ferries and cruise ships in the Geirangerfjord, as well as to other mobility applications. The ambition is to achieve zero-emission operations in the Geirangerfjord, one of two World Heritage Fjords in Norway, by producing green hydrogen locally.
Viking Cylinders, a Hexagon Ragasco brand, today announced it is joining the Arbor Day Foundation for the launch of its Time for Trees initiative, a commitment to plant 100 million trees in forests and communities worldwide by 2022, alongside its partners.
Hexagon Mobile Pipeline, a business of Hexagon Composites, has been awarded an order for TITAN® gas transport modules by NG Advantage, a leading provider of virtual pipeline services in the U.S. The order has a value of USD 4.2 million (approx. NOK 38 million).
In the third quarter of 2019 Hexagon Group generated NOK 770.3 (276.7) million in revenues and recorded an operating profit before depreciation (EBITDA) of NOK 49.3 (39.2) million. This was driven by continued positive developments in Hexagon Purus’ CNG Light-Duty Vehicles business and Agility Fuel Solutions, which is consolidated entirely after the acquisition on 4 January 2019.
Agility Fuel Solutions, a Hexagon Composites business, has been awarded an order to supply two fuel storage systems for a new hydrogen bus model from CaetanoBus, a leading Portuguese bus manufacturer.
Agility Fuel Solutions, a Hexagon Composites business, has been awarded an order to supply twelve fuel systems for Solaris’ new hydrogen bus model.
Hexagon Composites ASA (OSE:HEX) will report its third quarter 2019 results on 30 October in Oslo.
Hexagon Mobile Pipeline has been awarded an order for TITAN® gas transport modules by U.S. Gain, a leader in development, procurement and distribution of renewable and compressed natural gas in the United States. The order has a value of USD 1.4 million (approx. NOK 13 million).
Agility Fuel Solutions, a business of Hexagon Composites, has signed an exclusive three-year agreement with the global leader in logistics, UPS to supply compressed natural gas (CNG) fuel systems for medium and heavy-duty trucks as well as terminal tractors. The agreement represents a total value of USD 65 million to USD 95 million (approx. NOK 595 to 870 million) over the three-year period.
Hexagon Composites ASA has as part of its incentive program, granted 49,994 Restricted Stock Units ("RSUs") to certain employees of the company. Subject to continued employment for three years after date of grant (“Third Anniversary Date”), each employee will, on such Third Anniversary Date, receive such number of Hexagon shares that corresponds to the number of RSUs granted to such employee. As of the date of the grant, these employees are not part of any other long-term equity incentive program.
Hexagon has been granted approval for its ultra-high-pressure hydrogen ground storage tanks by the California Occupational Safety and Health Standards Board (CalOSHA).
On 10 September 2019, Flakk Gruppen AS (reg no 813 905 892), a company controlled by Mr. Knut Flakk, Chairman of the Board of Hexagon Composites ASA, which controls 28,753,721 shares in Hexagon Composites ASA, resolved to merge with Flakk Gruppen AS (reg no 923 214 704), a company also controlled by Mr. Knut Flakk, with the latter as the surviving entity. The total holding of Mr. Knut Flakk and his close associates in Hexagon Composites ASA is unaffected by the merger and remains at 29,384,969 shares. The merger is expected to be completed medio November 2019.
On 6 September 2019, Flakk Invest AS purchased 100,000 shares of Hexagon Composites ASA at a price of NOK 26.38 per share. Flakk Invest AS is a company controlled by Mr. Knut Flakk, Chairman of Hexagon Composites ASA. The holding of Flakk Invest AS after the transaction is 1,300,000 shares, and the total holding of Mr. Knut Flakk and his close associates after the transaction is 29,384,969 shares.
Morten Holum has been appointed Executive Vice President and Chief Operating Officer (COO) in Hexagon.
On 15 August 2019, Svela Capital AS purchased 1,100 shares in Hexagon Composites ASA at an average price of NOK 25,85 per share. Svela Capital AS is a company controlled by Morten Svela Sand, Director of Finance and Corporate Initiatives of Hexagon Composites ASA.
In the second quarter of 2019 Hexagon Group generated NOK 882.1 (366.8) million in revenues and recorded an operating profit before depreciation (EBITDA) of NOK 62.0 (73.6) million. This was driven by continued positive developments in Hexagon Purus’ CNG Light-Duty Vehicles and Agility Fuel Solutions, which is consolidated entirely after the acquisition on 4 January.
On 30 July 2019, Flakk Composites AS sold 2,000,000 shares of Hexagon Composites ASA to companies wholly owned by Ms. Maria Lilly Flakk, daughter of Mr. Knut Flakk who is Chairman of the Board in Hexagon Composites ASA. Flakk Composites AS is wholly owned by Flakk Gruppen AS, a company owned 98.7% by Mr. Knut Flakk. The price per share in the transaction is NOK 36.00.
Hexagon Composites ASA (OSE:HEX) will report its second quarter and half year 2019 results on 14 August in Oslo.
Hexagon Mobile Pipeline, a business of Hexagon Composites, has been awarded an order for TITAN® gas transport modules from Certarus Ltd., the North American market leading provider of fully integrated compressed natural gas (CNG) delivery solutions, with a total value of USD 7.3 million (approx. NOK 63 million).
Hexagon Mobile Pipeline, a Hexagon Composites business, has been awarded an order for TITAN® 53 transport modules, by an affiliate of a leading gas distribution utility in the United States. The order has a value of USD 4 million (approx. NOK 34 million).
Reference is made to the stock exchange announcement made on 10 October 2018 regarding the development and serial order for hydrogen tanks from a third OEM. The anticipated start of production was in the 2020 timeframe, with an estimated order value of NOK 400 to 600 million.
Hexagon Composites, together with other leading hydrogen players, announced today the establishment of the H2Bus Consortium. The members of the consortium are committed to deploying 1,000 hydrogen fuel cell electric buses along with supporting infrastructure in European cities at commercially competitive rates. The full realization of this project is expected to culminate in the largest hydrogen bus order till date for the Company.
In support of Agility Fuel Solutions’ vision of clean air everywhere through sustainable transportation solutions, Agility is taking steps to adopt sustainable solutions for its own internal transportation needs.
On 15.05.2019, the board of directors of Flakk Composites AS resolved to propose to its shareholders meeting that Flakk Composites AS shall demerger certain assets to two entities to be incorporated as part of the demerger, included in which are 25 000 000 shares in Hexagon Composites ASA. Flakk Composites AS is wholly owned by Flakk Gruppen AS, a company owned 98.7% by Knut Flakk, chairman of the board of Hexagon Composites ASA. Flakk Composites AS will change its name to Flakk Rollon AS as part of the demerger.After, and subject to, completion of the demerger Flakk Rollon AS will hold 4 340 504 shares (2,37%) of the total number of shares in Hexagon Composites ASA, whilst Flakk Composites AS (acquiring entity 1, to be established) and KF Finans AS (acquiring entity 2, to be established), which will be incorporated as wholly owned subsidiaries of Flakk Gruppen AS, will hold 20 000 000 shares (10,91%) and 5 000 000 shares (2,73%), respectively, of the total number of shares in Hexagon Composites ASA.The total holding of Knut Flakk and his close associates, including Flakk Rollon AS, Flakk Composites AS and KF Finans AS, remains unchanged in Hexagon Composites ASA. The demerger is expected to take place at the start of Q3 2019. For more information: Flakk Gruppen AS, by Knut Flakk Telephone: +4799746000 | knut.flakk@flakk.no
PRESS RELEASEHexagon Composites’ business area Hexagon Purus is substantially increasing its production capacity of high-pressure fuel tanks for CNG-powered passenger cars to meet the growing demand in Europe. Hexagon Purus recently entered into an agreement with its largest customer, Volkswagen AG, to triple the annual production volume. In 2017, Volkswagen together with German operators of CNG (Compressed Natural Gas) filling stations and gas networks committed to driving the expansion of CNG mobility in Germany. Since the start of the campaign, the increasing registration figures confirm that CNG engines are currently the type of power unit experiencing the most robust growth.“The importance of natural gas and biogas in addressing the environmental requirements is increasingly being recognized. Gas mobility is the fastest way to reduce CO2 emissions in the transportation sector due to existing infrastructure and available technology,” says Alfred Walberer, Vice President CNG Light-Duty Vehicles of Hexagon Purus. “We are proud to be a trusted partner of Volkswagen. Through this joint effort of increasing our production output for low-emission passenger car fuel tanks, we are contributing to the decarbonization of the transport sector.”Since 2013, Hexagon Purus (formerly Hexagon xperion) has been a serial supplier to Volkswagen for the CNG car models Golf TGI and Audi A3 Sportsback g-tron. From 2019, Hexagon has started to supply lightweight composite cylinders to SEAT Leon and Skoda Octavia. These models are mono-fuel vehicles with a longer range and increased performance due to a new and improved engine.The total investment is around EUR 6 million (approx. NOK 58 million) to expand and modernize its production facilities in Kassel, Germany. The new production line will start its operations in second half of 2019.For more information:Michael Kleschinski, President, Hexagon PurusTelephone: +49 151 58044068 | michael.kleschinski@hexagongroup.com
In the first quarter 2019 Hexagon Group generated NOK 821.8 (416.3) million in revenues and recorded an operating profit before depreciation (EBITDA) of NOK 150.3 (66.5) million, driven by the strong performance of Agility Fuel Solutions, consolidated for the first time in this quarter after its acquisition on 4 January. The acquisition included a net gain on the transaction of NOK 69.4 million. Operating profit (EBIT) was NOK 92.2 (47.3) million and profit/loss before tax came to NOK 66.1 (31.3) million.Key developments
Hexagon Composites' business area Hexagon Mobile Pipeline has been awarded an order for TITAN® gas transport modules from Certarus Ltd., the North American market leading provider of fully integrated compressed natural gas (CNG) delivery solutions, with a total value of USD 5.2 million (around NOK 45 million).
PRESS RELEASE
Hexagon Composites ASA (OSE:HEX) will report its first quarter 2019 results on 8 May in Oslo.
karen.romer@hexagongroup.com +47 950 74 950
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david.bandele@hexagongroup.com + 47 920 91 483