Hexagon Ragasco’s products, which are used for leisure, household and industrial applications, are manufactured at its highly automated production facility in Norway. The company has sold more than 22 million cylinders to over 100 countries worldwide.
Hexagon Ragasco is currently developing the next generation composite LPG cylinder concept; a sensor-based digital ecosystem with the potential to improve data insights to drive down costs across the value chain and unlock new business opportunities for LPG distributors. An initial pilot is being carried out together with the leading LPG distributor in Norway.
The company is also eyeing substantial growth opportunities outside its core market in Europe. This includes developing markets where LPG is expected to be a critical part of the energy transition, improving air quality and health for billions of people who today rely on highly pollutant and toxic fuels.
“Hexagon Ragasco has an exciting pipeline of growth opportunities which may be realized through, inter alia, structural strategic moves. We will carefully evaluate whether the company’s growth potential can best be realized inside or outside the Hexagon Group,” says Jon Erik Engeset, CEO, Hexagon Group. “We take tremendous pride in the position Hexagon Ragasco has developed to date and we intend to secure the company the best possible conditions for continued success.”
