Hexagon Ragasco awarded "Norway's smartest industrial company"

PRESS RELEASE

Hexagon Ragasco has been named Norway's smartest industrial company in competition with 58 other Norwegian companies.

Hexagon Composites' wholly-owned subsidiary, Hexagon Ragasco was honoured for using innovation and technology in the most intelligent manner, with a positive impact on productivity and competitive power. Hexagon Ragasco exports 95% of its products and continuously improving productivity is essential to remain competitive in the global market. Over a period of ten years Hexagon Ragasco has reduced production time per composite LPG cylinder from 74 seconds to 14 seconds. This corresponds to a productivity increase of more than 80 percent.

"The award is a source of great pride to us. It shows our dedication and our passion to increase productivity." says Skjalg S. Stavheim, Managing Director of Hexagon Ragasco. "In our company everyone feels that they take part in this process. Thanks to our skilled employees as well as long-term minded owners we have attained ambitious goals. There is still much more to achieve and I believe that this award will further motivate and strengthen our organization".

58 Norwegian companies from the industrial sector participated in the competition. The organizers, The Federation of Norwegian Industries (Norsk Industri) and Siemens have selected Norwegian companies that over time have shown enhanced productivity and competitiveness through innovation and smart use of technology. The award was handed out by the Norwegian Prime Minister Erna Solberg during the national Industry Conference 5 May 2015.

About Hexagon Ragasco
Hexagon Ragasco is the world's leading producer of composite LPG cylinders with over 9 million units in commercial use. The high-volume, highly automated production facility in Raufoss, Norway is the most advanced of its kind world-wide. Hexagon Ragasco's products are unique and provide many advantages over traditional steel cylinders in terms of safety and user-friendliness.

Hexagon Ragasco is a wholly-owned subsidiary of Hexagon Composites ASA, a leading global supplier of composite pressure cylinders for gas applications. Hexagon Composites ASA is a publicly listed company with its headquarters in Aalesund, Norway. In 2014 the Group had sales of NOK 1 651 million to customers world-wide.

For more information:
Skjalg Sylte-Stavheim, Managing Director Hexagon Ragasco AS
Mobile: [phone] | [e-mail]

Solveig D Saether, Communication Manager, Hexagon Composites ASA
Mobile: [phone] | [e-mail]
 
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Hexagon Ragasco production
Norways smartest industrial company award

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Source: Hexagon Composites ASA via Globenewswire

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