Hexagon to acquire Agility Fuel Solutions

   Hexagon Composites has signed an agreement to acquire the remaining 50% of Agility Fuel Solutions. This investment strengthens Hexagon's position as the globally leading gas fuel solutions provider.

   "We are really happy to have reached this milestone", says Jon Erik Engeset, CEO and President of Hexagon. "We believe the timing to be optimal. Fuel price spreads are back at attractive levels, payback times are favorable, and the global focus on the environment has never been stronger. Our combined solutions portfolio and expert teams represent a unique value proposition to the markets."

   "Hexagon has been a strong, supportive investor in Agility for the last two years. We share a common vision, values and strategic goals and look forward to an exciting future together," stated Kathleen Ligocki, CEO of Agility. "For our customers, this will provide Agility access to greater global resources and scale across a broad portfolio of sustainable energy technologies."

   Agility Fuel Systems and Hexagon's medium and heavy duty CNG automotive businesses merged in 2016 to create Agility, resulting in Hexagon owning 50% of Agility. The companies have delivered more than half a million cylinders and over forty thousand fuel systems to customers around the globe.

   Agility has production facilities in Salisbury, North Carolina, Lincoln, Nebraska, Fontana, California and Raufoss, Norway with technology centers in Lincoln, Nebraska, Wixom, Michigan and Kelowna, British Columbia. Agility maintains sales offices in North America, South America, India, the United Kingdom and Norway. The Company will report Agility's financial results as a separate business area, fully consolidated into Hexagon's accounts.