Hexagon Composites Internal Reorganisation Completed

02 October 2012

The internal reorganisation at Hexagon Composites has been completed as per 30 September, 2012, whereby the product area for CNG Passenger Cars has been spun off from Ragasco and merged with Raufoss Fuel Systems.

At the same time, the acquirer has changed its name from Raufoss Fuel Systems to Hexagon Raufoss. The new segment reporting will come into effect from 1 October, 2012.

Hexagon expect the reorganisation will help ensure Ragasco to fully concentrate on LPG containers in the future. The expanded High Pressure area will concentrate on maintaining its leading position in a strongly growing CNG market, and extracting synergies between the European and American markets.

Tore J. Fjell will continue as the Managing Director of Hexagon Raufoss. Ragasco and Hexagon Raufoss will remain located in Raufoss Business Park. Hexagon says the reorganisation will not entail any changes in the staffing situation.

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