Hexagon awarded new orders for TITAN mobile pipelines

Hexagon Composites' wholly owned subsidiary Hexagon Lincoln has received two large TITAN^TM orders valued at approximately USD 20.4 million (ca. NOK 138.7 million). The orders are from two existing clients in North America and Latin America. TITAN^TM 4 modules will transport compressed natural gas (CNG) for industrial use in the United States, and TITAN^TM XL trailers will transport CNG for various industrial applications in Mexico.

"Already operating large fleets of Hexagon products, these clients recognize the opportunities for continued growth and profitability of gas distribution by way of mobile pipeline," said Frank Haeberli, Vice President Gas Distribution Products. "They have put their trust in our quality products and reliable service, and we are dedicated to fulfilling that trust."

Earlier this year, Hexagon Lincoln introduced TITAN^TM XL, the largest CNG trailer of its kind, for use in Latin America. This new substantial order to Mexico demonstrates that road transportation of CNG over long distance makes a profitable business in this region. This compliments the continuing trend to TITAN^TM mobile pipelines enabling increased opportunities for natural gas as a substitute to diesel fuel aggregates within high horse power applications in North America.

Delivery of the majority of these new orders is scheduled for first and second quarter 2015. 

For more information:
Frank Haeberli, Vice President Gas Distribution Products, Hexagon Lincoln, Inc.
Telephone: +1 402 326 5586 | frank.haeberli@hexagonlincoln.com

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

Hexagon Composites ASA is a publicly listed company with its headquarters in Ålesund, Norway. The Group develops and produces composite cylinders for the storage and transport of various gases under pressure.