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  <h1>Statoil to sell composite company</h1> 
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    <div class="date-module"> <span class="date_module-icon fa fa-calendar"></span> <span>September 12, 2001, 09:00 CEST</span> 
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     <p>Statoil has signed a letter of intent to sell its stake in Raufoss Composites (RAC) to Hexagon Composites.</p> 
     <p>If the sale goes ahead, half the payment will be in cash. Shares in Hexagon will make up the remainder.</p> 
     <p>“The sale means that Statoil has found a long-term industrial investor that will be a good owner in the company Statoil helped to establish,” reports Per Henning Hanssen, project manager in Statoil’s industrial development unit.</p> 
     <p>He emphasises that the sale will safeguard the future development of composite containers.</p> 
     <p>Raufoss and Statoil have cooperated in the development and manufacture of composite propane containers since 1996. The bottles are practical for consumers – they weigh only half as much as the traditional steel bottles. In addition they are transparent, which allows you to see how much propane is left.</p> 
     <p>Statoil has a contract for 760,000 gas containers over a period of four years.</p> 
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