Devold AMT AS, a 100 % owned subsidiary of Hexagon Composites ASA, has closed a frame agreement with a large windmill producer. The agreement is expected to result in a turnover of approximately 30 million NOK for 2006.The agreement signed November 17. 2006 is a frame agreement with 12 months mutual notice. A condition for deliveries under the agreement is a successful qualification of materials to customer specifications. Deliveries of the stitched fibre reinforcements are shipped to a North European manufacturing site.
An important factor for the new customer in choosing Devold AMT as supplier has been the company`s leading knowledge in development of stitched fibre reinforcements, and the resources employed in developing core competences of manufacturing processes where stitched reinforcements are being used.
This agreement is an important step towards achievement of the explicit goal to broaden Devold AMT`s customer base in the wind segment.
For further information, the following persons can be contacted:
Hexagon Composites ASA
Erik Espeset
Group President
+47 70 11 64 45/+47 905 20 033
Devold AMT AS
Johan Fausa Managing Director
+47 70 19 85 19 / +47 926 04 048
Dag Olav Tennfjord
CFO Hexagon Composites ASA
+47 7019 85 14/ +47 971 75 730