13 May 2014
13 May 2014
Hexagon Lincoln and Agility Fuel Systems have announced a joint venture to supply CNG Cylinders for fuel systems to support growing heavy- duty natural gas truck market.
Agility Fuel Systems explains that it believes it has reached a business volume that gives economic justification for a dedicated CNG tank production line physically integrated with systems assembly. The new tanks will be based on Hexagon Lincoln core products with unique technology jointly developed by the two companies.
Hexagon Lincoln claims the company’s existing expansion plans are critical to this venture, and as the market continues its rapid growth, additional manufacturing facilities will be required. An integrated facility established close to OEM truck customers to optimise the overall value chain makes strong sense.
Barry Engle, CEO, Ability Fuel Systems commented “We are excited to share the tangible synergies and value proposition that this joint venture brings to the industry. It will certainly allow us to better satisfy the strong demand we are experiencing from our customers. We see this integration as a logical next step in our evolution catering to the needs of a dynamic and growing industry, and are pleased to take our partnership with Hexagon Lincoln to the next level.”
Jack Schimenti, President, Hexagon Lincoln added “Our common commitment to excellence in engineering was a key factor in this decision. Our current customers will not in any way be negatively affected by this new venture. In fact, the resulting synergies will keep us, and them, at the forefront of innovation in the industry.”