Hexagon Composites issues profit warning

According to Hexagon, sales in both its Ragasco and Devold AMT subsidiaries have been lower than expected in this quarter. There are also overdue payments.

Hexagon Composites ASA, headquartered in Norway, has four wholly owned subsidiaries – Ragasco AS, Lincoln Composites Inc, Raufoss Fuel Systems AS and Devold AMT AS.

Ragasco, based in Norway, manufactures composite LPG cylinders. Devold AMT, also headquartered in Norway, supplies multiaxial reinforcements for the composites industry.