Hexagon Composites' subsidiary xperion awarded Mobile Pipeline® order in Pakistan
(Thomson Reuters ONE) -
Hexagon Composites' newly acquired subsidiary, xperion Energy & Environment, has
received an order for X-STORE® gas container modules from EGAS Pvt. Ltd with a
total estimated value of EUR 2.6 million (around NOK 21 million).
EGAS, one of the leading gas distributors in Pakistan, sees increased demand for
Mobile Pipeline® Compressed Natural Gas (CNG) solutions for industrial customers
in areas not served by pipelines.
While natural gas is a limited resource in Pakistan, piped gas to CNG stations
and industries are being closed down during the winter season in order to
dedicate this fuel to power plants for electricity generation.
Since 2013, EGAS has operated several X-STORE® modules serving oil wells for
capturing and compressing flare gas. In 2016 EGAS bought TITAN® modules from
Hexagon Composites' US-based subsidiary Hexagon Lincoln.
The Mobile Pipeline® modules are used to supply the captured CNG to industrial
users with stable energy demand, such as hotels, fueling stations and the
textile industry.
"As EGAS continues its expansion, we are proud to remain as their partner," says
Hartmut Fehrenbach, Business Unit Director of Mobile Pipeline® at xperion Energy
& Environment. "Lower CNG prices paired with higher transport efficiency improve
the competitiveness of Mobile Pipeline® operators and favor our all-composite
mobile solutions."
"Both X-STORE® and TITAN® gas modules have proven to be very suitable solutions
in our endeavor to support the authorities' ambition of securing Pakistan's
natural gas supply," says Hassan Raza, Executive Director at EGAS. "Hexagon
Composite is a reliable partner and we expect more cooperation as we continue to
expand our business."
The X-STORE® 48-foot modules are scheduled for delivery in the second quarter of
2017.
In October 2016, Hexagon Composites acquired xperion Energy & Environment in
Germany to strengthen its position in the global composite pressure cylinder and
systems market. xperion Energy & Environment, headquartered in Kassel, Germany,
is a leading manufacturer of all-composite high-pressure cylinders for the
automotive industry and gas transportation. The X-STORE® modules expand the
Hexagon Composites' Mobile Pipeline® product portfolio.
For more information:
Solveig D Saether, Communication Manager, Hexagon Composites ASA
Telephone: +47 906 34 977 | solveig.saether(at)hexagon.no
About EGAS
EGAS Pvt. Ltd. is Pakistan's first private natural gas sales and distribution
company specializing in capturing flared gas at oil wells. The company has
gained significant experiences in developing a state of the art delivery method
for transporting natural gas. EGAS captures raw gas at oil fields, processes and
compresses it into large-scale specialized trucks which then transport the
natural gas to industrial and commercial customers.
About Hexagon Composites
Hexagon Composites is a publicly listed company with its headquarters in
Aalesund, Norway. The Group is a leading global supplier of composite pressure
cylinders and systems for storage and transportation of various gases.
Follow us on Twitter: (at)HexagonASA
This information is subject to the disclosure requirements pursuant to section
5 -12 of the Norwegian Securities Trading Act.
Illustration xperion Mobile Pipeline solution:
http://hugin.info/132600/R/2087372/787771.pdf
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
Unternehmensinformation / Kurzprofil:
Datum: 14.03.2017 - 08:45 Uhr
Sprache: Deutsch
News-ID 529965
Anzahl Zeichen: 4177
contact information:
Town:
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Kategorie:
Business News
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