Our Company

Lightweight in success - Hexagon Raufoss is a subsidiary of the Hexagon Group and the world’s leading producer of fully composite high pressure cylinders.
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Hexagon Composites ASA is a listed Group with its head office in Ålesund, Norway. The Group has more than 500 employees and posted a turnover of NOK 1 033 million in 2012. The market has a strong interest in our products and solutions. This applies in particular to CNG cylinders, an area in which we experienced considerable growth in 2012. We are well-positioned for continued profitable growth in international niche markets with strong and long-term growth trends. 
 
 
OUR PRODUCTS AND MARKETS

LPG cylinders

Propane cylinders for households, leisure activities, catering kitchens and forklift trucks. The principal markets are in Europe, the Middle East and South America.

 

CNG cylinders

High-pressure cylinders for natural gas, biogas and hydrogen. The cylinders are used as fuel tanks for gas-powered vehicles and as tanks for the transport and/or storage of gas. The principal markets are in the US, Europe, Asia and South America.
   
The most important growth driver for Hexagon Composites is the difference between the oil and gas prices. A stable, high price difference will contribute to an increasingly larger market transfer to natural gas both in the western world and in developing countries. In addition to this, the increased environmental requirements are an important market driver. New technology for the extraction of shale gas in the US entails that there will most likely continue to be a considerable difference in price to the benefit of gas as an energy source for several decades to come. The strong focus in Europe on the use of cleaner energy sources will increase the use of gas-powered vehicles, particularly for buses, in the short term. Our solutions assist in making the transition more costeffective for the users.

 

INNOVATION AND COST-EFFECTIVE PRODUCTION

The Group's technology and expertise are in demand. Much of this is due to increased awareness concerning the need to reduce harmful emissions. Energy gases are cleaner than liquid fuels. Innovation therefore occurs in cooperation with the market players that will sell the products or use them in their own products, for example, cars, buses, heavy-duty vehicles and wind turbines. This further strengthens our expertise and innovation rate. In parallel with this we have consciously built up expertise and capacity with a view to cost-effective production at highly automated facilities. This provides competitiveness in price-focused markets.

 

STRATEGY

Hexagon Composites shall build shareholder value and achieve growth and increased profitability within all business units. We shall be the global leader within selected niches in the composite industry. The Group shall take market shares from traditional materials such as steel and aluminium by developing innovative and cost-effective composite solutions that are competitive in terms of price. Highly automated production, optimal product design and high capacity utilisation shall give us the best competitiveness in the market. We shall have the most effective cost structure in the market. Innovation and product development are important parts of our strategic basis. We work together with the customers to develop the best solutions.
 
 

EMPLOYEES

Innovation, ambition and expertise are decisive for success in our industry. We must continually ensure that our talented employees are able to develop and create specialist environments that competent and interested people want to be part of. This concerns involvement and visibility, which require flat organizational structures and short distances between employees and decision-makers. At Hexagon Composites we believe that innovation and dynamics are best when people with different approaches and experience are able to work together. It is therefore a declared goal to have a work force that represents different backgrounds and both genders. The prerequisite is that they have the necessary expertise.

 

VALUES

Hexagon Composites' operations, production and management shall be carried out in compliance with the highest ethical standards and in accordance with the regulations of each country.