Hexagon Ragasco AS

What Hexagon Ragasco AS does

Hexagon Ragasco AS (legally Ragasco AS, Norway) is a specialist manufacturer of composite (fiber-wrapped) LPG cylinders, headquartered at Raufoss Industrial Park in Norway with 101-250 employees. Founded around 2000 and operating for more than 25 years, the company produces seamless, lightweight composite cylinders for liquid gas storage and distribution as an alternative to traditional steel cylinders, claiming an "unmatched safety record" across millions of units delivered. Its product range spans standard composite cylinders in approximately 1,000 size and configuration variants, a Cylinder Configurator tool that enables customer-specific branded cylinders, and the Linktra Smart Cylinder line — composite cylinders with embedded IoT devices that transmit gas-level, usage, and location data to distributors. Ragasco also markets Environmental Product Declarations and a Carbon Footprint Calculator to quantify the sustainability profile of composite vs. conventional cylinders.

The company operates a B2B hardware-sales model: pricing is quote-based (not publicly disclosed), and cylinders are sold direct through an international sales team and via partnerships with LPG distributors and marketers. Its named customer base spans nine publicly documented case-study accounts across Europe, Africa, South America, and Asia, including Antargaz Energies, Beximco LPG, Beyfin S.p.A, Eastern Petroleum, Kosan Gas, Megal S.A., Provigas, Seychelles Petroleum Company and Vivo Energy Mauritius. Ragasco is a wholly-owned subsidiary of Worthington Enterprises following the earlier Hexagon divestiture; in March 2025, Worthington consolidated its North American Viking Cylinders business under the Ragasco brand, and in October 2025 the company launched a circular-solutions / end-of-life recycling program. Marketing and distribution channels include a customer portal, an international sales team, industry events (e.g., 8th International LPG Congress in Bogotá and West Africa LPG Expo in Abidjan, both 2026), and a corporate presence on LinkedIn and YouTube. Active memberships in seven regional and global LPG industry associations (WLPG, NPGA, AIGLP, Liquid Gas Europe, POGP, AmericanExGas) underscore a regulatory and standards-engagement strategy.

Name

Hexagon Ragasco AS

Legal name

Ragasco AS

Website

https://hexagonragasco.com

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

51–100 employees

Short description

Hexagon Ragasco AS is a Norwegian manufacturer of composite LPG cylinders, supplying lightweight, seamless composite cylinders — including IoT-enabled Linktra Smart Cylinders — to LPG distributors, marketers, and end-use consumers across Europe, Africa, Asia, the Americas, and the Middle East.

Ownership category

akta.pro rank

Product category

Composite LPG Cylinders

NAICS

Rubber and Plastics Hoses and Belting Manufacturing (326220), Plastics Pipe, Pipe Fitting, and Unlaminated Profile Shape Manufacturing (32612)

SIC

Metal Shipping Barrels, Drums, Kegs & Pails (3412), Gaskets, Packg & Sealg Devices & Rubber & Plastics Hose (3050)

akta.pro industry

PRIMARYTLAGAKAE

NGL/LPG Storage & Fractionation Terminals

Transportation & Logistics/Pipeline Transportation/Pipeline Storage & Terminals (Tank Farms, Pump/Compressor Stations)

SECONDARYTLAHABAK

LPG / NGL Terminals (Pressurized/ Refrigerated Gas)

Transportation & Logistics/Ports, Terminals & Maritime Services/Bulk Cargo Terminals (Dry & Liquid Bulk)

SECONDARYEUALALAA

Industrial CNG/LNG Supply & Distribution (Virtual Pipelines, Trucking, Satellite Storage)

Energy, Utilities & Environment/Oil & Gas (Upstream, Midstream, Downstream and Refining)/Gas-to-Power & Industrial Gas Supply (CNG/LNG for Industry, Captive Power)

Keywords

• Composite LPG cylinders
• Liquid gas storage
• IoT gas cylinders
• Cylinder manufacturing
• LPG distribution equipment

Headquarters

HQ city

Raufoss

HQ country

Norway

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Composite LPG Cylinder Sales: Manufacturing and direct sale of composite LPG cylinders to liquid gas companies, distributors, and marketers worldwide. Products are sold with options for custom branding through their cylinder configurator.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Hexagon Ragasco AS manufactures composite LPG (liquefied petroleum gas) cylinders for storage and transportation of liquid gas, supplying LPG distributors, marketers, and gas companies worldwide. Its portfolio centers on two product lines: standard Composite LPG Cylinders (seamless, lightweight cylinders with transparent bodies, no corrosion, and visual fuel-level inspection) and Linktra® Smart Cylinders with embedded IoT devices for remote monitoring of gas levels, usage, and location. The company also offers a Cylinder Configurator for customer-branded customization.

Product overview

Ragasco is a leading global manufacturer of composite LPG cylinders, offering a focused portfolio centered on two core product lines: traditional composite LPG cylinders and Linktra® Smart Cylinders with embedded IoT capabilities. The company provides approximately 1,000 products in various sizes and configurations for liquid gas applications. An optional Cylinder Configurator tool enables customers to customize cylinder branding. The products serve liquid gas marketers and distributors worldwide, with a strong emphasis on safety, sustainability, and the energy transition toward cleaner fuels.

Differentiator

Problem solved

Functional benefit

Brands

• Linktra® Smart Cylinders: Smart cylinder product line featuring IoT-enabled monitoring capabilities for real-time tracking of LPG levels and cylinder usage.

Products and services

• Composite LPG Cylinders Ragasco's primary product line: seamless, lightweight composite LPG cylinders for liquid gas storage, manufactured with state-of-the-art technology and energy-efficient methods, designed for LPG distributors and marketers and offering a 25+ year unmatched safety record.
• Linktra® Smart Cylinders IoT-enabled variant of Ragasco's composite LPG cylinders with embedded devices for real-time monitoring of gas levels, usage patterns, and cylinder location, enabling data-driven infrastructure management and automated dispatch/inventory for LPG distributors.
• Cylinder Configurator Online customization tool that lets LPG distributor customers design Ragasco composite cylinders with their own company branding to create distinctive products for their market.
• Carbon Footprint Calculator Online calculator tool enabling customers to quantify the environmental impact of using Ragasco composite LPG cylinders versus traditional steel cylinders, supporting sustainability reporting for LPG distributor customers.

Quantifiable outcome

• Millions of cylinders delivered with an unmatched safety record

Named customers9 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature4 records

Partnerships

Six partnerships are on record, tiered minor.

• AIGLP (Asociación Internacional de Gas Licuado)minorOthersInternational LPG association partnership for industry collaboration and standards development.
• AmericanExGasminorOthersIndustry association partnership for LPG standards and best practices.
• NPGA (National Propane Gas Association)minorOthersU.S.-based propane gas association partnership for industry standards and advocacy.
• WLPG (World LPG Association)minorOthersGlobal LPG industry association partnership for international standards and sustainable energy initiatives.
• POGP (Polish Oil and Gas Association)minorOthersRegional European LPG association partnership.
• Liquid Gas EuropeminorOthersEuropean regional LPG association partnership for industry standards and sustainability initiatives.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Faber Industrie: Italian manufacturer of composite LPG cylinders and other composite pressure vessels. Direct head-to-head competitor to Ragasco in composite LPG cylinders, serving many of the same European LPG distributors.
• Everest Kanto Cylinder: India-based manufacturer of LPG cylinders (primarily steel but expanding into composite) and other industrial gas cylinders. Competes with Ragasco in the global LPG cylinder market, particularly for emerging-market distribution.
• Luxfer Gas Cylinders: Manufacturer of high-pressure composite and aluminum gas cylinders, including alternative-fuel (CNG, hydrogen) applications. Competes with Ragasco in the broader composite gas cylinder market and shares customers in industrial gas and alternative fuel segments.
• Manchester Tank: Manufacturer of steel propane tanks and cylinders, also owned by Worthington Enterprises. Serves the same North American LPG distribution market as Ragasco's composite cylinders and competes with Ragasco's offering through product-line adjacency within the parent.

Broad incumbents

• Chart Industries: Large diversified manufacturer of cryogenic and process technology equipment, including bulk storage, transport, and distribution solutions for industrial gases and LNG/LPG. Operates adjacently in LPG storage and distribution hardware that competes at the infrastructure level with Ragasco's portable cylinders.
• Worthington Enterprises: Publicly-traded parent company of Ragasco that also operates broader pressure cylinder and consumer products businesses (including steel propane tanks under the Manchester Tank brand). Provides a relevant comparable for parent-level valuation framing and adjacent cylinder product economics.

Emerging players

• Confidence Petroleum India: Indian LPG bottling and distribution company that has expanded into cylinder manufacturing. Vertically integrated competitor relevant to Ragasco's growing India and South Asia LPG distribution footprint.
• MAHYTEC: French manufacturer of composite pressure vessels for hydrogen and industrial gases. Emerging player in composite gas storage with overlapping technology and customer types, particularly in European alternative-fuel and decarbonization applications.

Regional players

• Jiangsu Tianhai Special Equipment: Chinese manufacturer of composite gas cylinders (CNG, hydrogen, industrial gases) with growing export presence. Regional player competing in Asia-Pacific and selected emerging markets where Ragasco also sells.
• Bhiwadi Cylinders: Indian steel LPG cylinder manufacturer serving the domestic Indian LPG market. Relevant regional competitor for price-sensitive emerging-market cylinder demand where composite adoption is still developing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/user/HexagonRagasco
• LinkedInlinkedin.com/company/ragasco-as
• Xx.com/RagascoAS

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hexagon Ragasco AS