Hexagon Composites receives new TITAN and SMARTSTORE orders

Hexagon Composites' wholly owned subsidiary Hexagon Lincoln has received TITAN^TM, TITAN^TM XL and SMARTSTORE^TM orders valued at approximately USD 21 million (approximately NOK 129 million). The orders are from existing and new clients in North America, Latin America and South East Asia. The modules and trailers will transport compressed natural gas (CNG) for industrial use in Canada and Mexico, and to vehicle refueling daughter stations in Malaysia and South America.

"We are pleased with the response to our new TITAN^TM XL, which is the largest CNG trailer of its kind," said Frank Haeberli, Vice President Gas Distribution Products. "Our first 14 units were ordered by leading gas transportation clients based in Mexico just weeks after our new product announcement."

Hexagon Lincoln is responding to the strong demand by commissioning an additional TITAN^TM winder into operation.

The majority of deliveries of the new orders are scheduled for the third and fourth quarters of 2014.

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.

For more information:
David Bandele, CFO, Hexagon Composites ASA
Telephone: +47 920 91 483 | david.bandele@hexagon.no

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