This will result in the loss of 16 jobs.
Composite Scandinavia AB will continue to manage licenses, service and support. The company will retain four employees. Hexagon Composites, Norway, expects production to stop during fourth quarter of 2012. This decision is the result of weaker market for LPG cylinders and available capacity at Hexagon Composites subsidiary Ragasco AS in Norway. Hexagon aims to concentrate the production of composite LPG cylinders in one factory. Established customer relations will be continued and future deliveries will be based on Ragasco product technology.
