Hexagon Composites signs new major contract with Daimler AG
Hexagon Composites ASA's wholly-owned subsidiary, Ragasco AS has signed a new major, multi-year contract with Daimler AG for the supply of high pressure containers.
The contract covers the delivery of fuel tanks for natural gas to the next generation of today's Mercedes-Benz B-class. Ragasco AS is already supplying high-pressure containers in composite to today's Mercedes-Benz B-Class, an eco-friendly car that has been well received by the market.
The new contract which is signed with Daimler ensures a base of production volume for Ragasco beginning in the second half of 2012 and will contribute to the future goal to provide high-pressure products produced in an automated production line. Ragasco expects this production to become an integral part of the company's fully-automated production line for propane containers.
The new contract with Daimler supports the trust established through the development and delivery of high-pressure containers to other Mercedes models and platforms in recent years, and it confirms Ragasco's leading position in the industry. Containers in composite from Ragasco weigh only 30-35% of traditional CNG containers made of steel.
The new contract with Daimler supports the trust established through the development and delivery of high-pressure containers to other Mercedes models and platforms in recent years, and it confirms Ragasco's leading position in the industry. Containers in composite from Ragasco weigh only 30-35% of traditional CNG containers made of steel.
For more information:
Erik Espeset, Group President, Hexagon Composites ASA
Telephone: +47 90 52 00 33 | E-mail: erik.espeset@hexagon.no
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)