Hexagon Composites ASA: internal reorganisation completed

With reference to the stock exchange releases dated 7 February 2012 and 25 May 2012 concerning internal reorganisation.

The announced internal reorganisation has been completed as per 30 September. 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 help ensure 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.

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