Hexagon Composites signs a new contract with PDVSA
Hexagon Composites ASA's subsidiary Ragasco AS has received a repeat order for 125 000 LPG composite cylinders from the Venezuelan company PDVSA Services Inc. The order is the result of an international tender issued by PDVSA Services B.V.
PDVSA Services B.V. is the international procurement office and fully owned subsidiary of the state-owned Venezuelan petroleum company Petróleos de Venezuela, S.A. (PDVSA). The cylinders will be used by PDVSA Gas Comunal and through their existing LPG distribution network shipped out to the nation's households.
"We are delighted to continue to supply our products to PDVSA and the Venezuelan people, and it is our hope to further strengthen the business relations between our companies in the future. We regard especially Venezuela and the South American region as an important area for the future development of Ragasco", says Global Sales Director of Ragasco AS, Hans Henrik Larsen.
This order represents the continuing commitment of PDVSA to the ongoing modernisation programme of the Venezuelan LPG industry in providing modern, practical and safe cylinders for the Venezuelan public. As a part of the agreement Ragasco has earlier delivered in total 900 000 LPG cylinders to PDVSA.
Cylinders in composite have great advantages compared with traditional steel cylinders. Ragasco's LPG cylinders do not rust in an environment with high humidity and salt content. The users can easily lift and carry the cylinder as the weight is 50% lower than steel cylinders of the same size. The low weight also makes transport by ship in the Caribbean Sea easier and requires less fuel.
Earlier this year, Ragasco AS went through a rebuilding process of the factory plant in Raufoss to increase the production efficiency and capacity. The factory does now have a capacity to produce up to 2 million cylinders per year.
Ragasco AS develops and manufactures pressure containers in composite for storage and transportation of propane gas (LPG) and compressed natural gas (CNG).
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Hexagon Composites ASA is a listed Group, with its head office located in Ålesund. The Group has 315 employees and achieved a turnover of NOK 867.5 million in 2009. The company develops and manufactures composite vessels for storage and transportation of various gases under pressure, and multiaxial composite reinforcements.
For more information:
Øyvind Hamre, Managing Director, Ragasco AS
Telephone: +47 97 79 55 90 | E-mail: oyvind.hamre@ragasco.com
Hans Henrik Larsen, Global Sales Director, Ragasco AS
Telephone: + 45 40 30 66 36 | E-mail: hans-henrik.larsen@ragasco.com