Hexagon Lincoln, a wholly owned subsidiary of Hexagon Composites, says new orders for compressed natural gas (CNG) fuel tanks from North American heavy-duty vehicle and transit bus customers signal continuing strength in those markets.
The company recently received more than $7.5 million in new orders for delivery of its Tuffshell CNG tanks, and most of the orders, totaling $5 million, are scheduled for delivery in the first quarter 2016.
“Recent headlines focused on oil price volatility have overshadowed the fact that natural gas still remains the least expensive option at the pump,” says Chet Dawes, Hexagon Lincoln’s vice president of CNG automotive products. “We’re seeing the market reaffirm its commitment to natural gas vehicles and Hexagon Composites’ leadership position as a supplier.”
