Hexagon Composites ASA announced today that its fully owned subsidiary Ragasco AS and BP have agreed to renew their strategic supply agreement.

 

In September 2003 Hexagon's fully owned subsidiary Ragasco AS entered into a five year strategic alliance with BP. The alliance was for the provision of Ragasco's lightweight composite (LPG) containers to be sold and marketed via BP's extensive distribution network under the name "BP Gas Light" in selected European markets.

 

This alliance has proved so successful for both Ragasco and BP and their customers that a renewal agreement has now been signed. Under the provisions of the contract the alliance agreement can be further extended at a later date.

 

"We are delighted to continue our mutually beneficial partnership with BP and look forward to the challenges of the coming years. We know from past experience that BP is the right partner for us with excellent and professional distribution channels and that our product is the premium product in the industry and therefore a natural choice for BP. The container's lightweight and durability combined with strong safety and usability make it very attractive to the end consumer." says Erik Espeset, Hexagon Group President.

 

For further information please contact:

Erik Espeset

Hexagon Composites ASA

Tel: +47 70 11 64 45

E-mail: erik.espeset@hexagon.no

 

Further information about Ragasco's LPG containers can be found on the company's web site at www.ragasco.com