Hexagon Composites has signed a long-term agreement worth an estimated $45 million with one of its key customers, New Flyer Industries.
“Our companies have a 20-year history of working together. We are pleased to have Hexagon Composites as our preferred supplier for CNG tanks and ancillary products. We are working together to implement new technologies to improve the value proposition for our customers,” says Raul Ramirez, director of strategic sourcing, for New Flyer Industries.
The overwhelming majority of compressed natural gas (CNG) transit buses in North America use Type 4 fuel tanks produced by Hexagon Composites. Demand for these vehicles continues to grow, as they play an important role in lowering emissions and particulates in urban areas, according to Hexagon.
“Our team is providing valuable support to help engineer a more efficient system with new product offerings for these vehicles,” says Chet Dawes, vice president of CNG automotive products for Hexagon Composites. “This agreement is a reflection of the dedication and long-term collaboration between our companies.”