Jon Erik Engeset appointed new CEO of Hexagon Composites

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The Board of Directors of Hexagon Composites ASA has appointed Jon Erik Engeset as new CEO.

For the last 11 years, Mr. Jon Erik Engeset has been the CEO of SafeRoad, a leading European supplier of traffic safety solutions. Prior to that, he held senior managerial positions in various companies including Rolls-Royce and Norsk Hydro. Engeset holds a M.Sc. and an MBA from the Norwegian School of Economics (NHH).

Chairman of the Board, Mr. Knut Flakk expresses great satisfaction with the appointment of Jon Erik Engeset as new CEO of Hexagon Composites ASA. "The Board conducted a wide-ranging recruitment process and the position attracted many well-qualified applicants. Hexagon Composites is operating in markets with considerable growth potential and Engeset's substantial experience from managing high growth businesses will be of great value to the Hexagon Group", comments Knut Flakk.

"Hexagon Composites is well-positioned in market niches with great growth potential. I look forward to getting to know the organisation and my new colleagues, and together with them go after many of the Group's opportunities," says Engeset in a commentary.

Jon Erik Engeset will take up his new position on August 5th 2013.

For further information please contact:
Knut Flakk, Chairman of the Board, Hexagon Composites ASA
Phone: (+47) 997 46 000 | knut.flakk@flakk.no

Solveig D Saether, Communications Manager, Hexagon Composites ASA
Phone: (+47) 906 34 977 | E-post: solveig.saether@hexagon.no

Hexagon Composites ASA is a publicly listed company with its head office located in Aalesund, Norway. The Group has around 450 employees and achieved a turnover of NOK 1 033 million in 2012. The Group develops and produces composite containers for the storage and transport of various gases under pressure and multiaxial composite reinforcements.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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