Hexagon Composites' subsidiary Hexagon Lincoln announces a follow-on purchase order for TITAN® 4 trailers from Certarus Ltd. with a total value of USD 11 million (around NOK 86 million). The Mobile Pipeline® modules will serve the industrial sector in North America.
Earlier this year, Hexagon and Certarus, a leading provider of fully integrated compressed natural gas (CNG) delivery solutions, entered into a long-term agreement. With this order Certarus is expanding its already large TITAN® fleet, which serves the oil and gas, industrial and commercial sectors.
"The macro trend of gasification of both the oil & gas sector and industrial markets has created strong demand for Certarus. This new order of TITAN® trailers will be deployed primarily into our industrial power generation fuel supply business line. Certarus is the North American market leader for large scale integrated compressed natural gas solutions and Hexagon's TITAN® 4 is the core of our fleet", says Curtis Philippon, President & CEO of Certarus Ltd.
"Hexagon is extremely pleased that Certarus continues to see us as a critical partner in the supply of clean fuel into the industrial sector of North America. This additional order continues to reaffirm the effectiveness of the TITAN® 4 as a cost-effective tool to transport energy," says Jack Schimenti, President of Hexagon Lincoln. "We are proud of our partnership with Certarus."
Deliveries are scheduled to commence in fourth quarter of 2017 and continue through first quarter of 2018.
For more information:
Jack Schimenti, President, Hexagon Lincoln LLC
Telephone: +1 402 430 3863 | jack.schimenti@hexagonlincoln.com
David Bandele, CFO, Hexagon Composites ASA
Telephone: +47 920 91 483 | david.bandele@hexagon.no
Solveig D Saether, Communication Manager, Hexagon Composites ASA
Telephone: +47 906 34 977 | solveig.saether@hexagon.no
About Certarus
Certarus Ltd is a leader in providing a fully integrated compressed natural gas (CNG) solution for the North American commercial and industrial markets. The primary business is the creation of a "Virtual Natural Gas Pipeline" through the compression, transportation and integration of CNG for the energy services, mining, forestry and industrial sectors.
About Hexagon Composites ASA
Hexagon Composites ASA is a publicly listed company with its headquarters in Aalesund, Norway. The Group develops and produces composite pressure cylinders and systems for storage and transportation of various gases.
For more information, please visit www.hexagon.no
Follow us on Twitter: @HexagonASA
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Hexagon Composites ASA via Globenewswire
Source: Thomson Reuters ONE
(October 6, 2017 - 3:20 PM EDT)
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