Hudson Technologies Comments on U.S. International Trade Commission Vote on Antidumping Petition Related to R-134a from China
March 23 2017 - 7:57PM
Business Wire
Hudson Technologies, Inc. (NASDAQ:HDSN) announced its support of
today’s U.S. International Trade Commission (“ITC”) final vote on
the antidumping petition related to R-134a (HFC-134a) from China.
By this vote, the ITC found that the U.S. industry producing R134a
is materially injured by reason of imports of R-134a from China
that are sold in the U.S. at less than fair value. As a result of
this vote, the U.S. Department of Commerce (“Commerce”) will issue
an antidumping duty order on imports of R-134a from China which
will impose antidumping duties ranging from 148.79 percent to
167.02 percent.
Kevin Zugibe, Chairman and CEO of Hudson Technologies,
commented, “We fully support the ITC’s decision to enforce
antidumping duties, which we believe will restore balance in the
market and address the low price levels the U.S. industry has
experienced over the last several years. As a next generation
refrigerant already targeted for phase out, HFCs represent a
tremendous opportunity for our Company for both distribution and
reclamation. We applaud the ITC’s conclusion and look forward to
the anticipated positive near-term impact of this decision on our
industry related to increased HFC pricing and in turn, improved
operating results.”
The American HFC Coalition filed the antidumping petition in
March 2016, charging that imports of R-134a from China are being
sold at less than fair value and have caused material injury to the
U.S. domestic industry producing R-134a.
More details can be found on the ITC website:
https://www.usitc.gov/press_room/news_release/2017/er0323ll743.htm.
About Hudson Technologies
Hudson Technologies, Inc. is a leading provider of innovative
solutions to recurring problems within the refrigeration
industry. Hudson's proprietary RefrigerantSide® Services
increase operating efficiency and energy savings, and remove
moisture, oils and other contaminants frequently found in the
refrigeration circuits of large comfort cooling and process
refrigeration systems. Performed at a customer's site as an
integral part of an effective scheduled maintenance program or in
response to emergencies, RefrigerantSide® Services offer
significant savings to customers due to their ability to be
completed rapidly and at higher purity levels, and can be utilized
while the customer's system continues to operate. In addition, the
Company sells refrigerants and provides traditional reclamation
services to the commercial and industrial air conditioning and
refrigeration markets. For further information on Hudson,
please visit the Company's web site at www.hudsontech.com.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995
Statements contained herein which are not historical facts
constitute forward-looking statements. Such forward-looking
statements involve a number of known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such
factors include, but are not limited to, changes in the laws and
regulations affecting the industry, changes in the markets for
refrigerants (including unfavorable market conditions adversely
affecting the demand for, and the price of, refrigerants), the
Company's ability to source refrigerants, regulatory and economic
factors, seasonality, competition, litigation, the nature of
supplier or customer arrangements which become available to the
Company in the future, adverse weather conditions, possible
technological obsolescence of existing products and services,
possible reduction in the carrying value of long-lived assets,
estimates of the useful life of its assets, potential environmental
liability, customer concentration, the ability to obtain financing,
risks associated with the Company’s joint ventures which include
the ability of the parties to perform their obligations under the
joint venture agreements, any delays or interruptions in bringing
products and services to market, the timely availability of any
requisite permits and authorizations from governmental entities and
third parties as well as factors relating to doing business outside
the United States, including changes in the laws, regulations,
policies, and political, financial and economic conditions,
including inflation, interest and currency exchange rates, of
countries in which the joint ventures may seek to conduct business,
the Company’s ability to successfully integrate any assets it
acquires from third parties into its operations, and other risks
detailed in the Company's periodic reports filed with the
Securities and Exchange Commission. The words "believe", "expect",
"anticipate", "may", "plan", "should" and similar expressions
identify forward-looking statements. Readers are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date the statement was made.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170323006334/en/
Investor RelationsInstitutional Marketing Services
(IMS)John Nesbett/Jennifer Belodeau,
203-972-9200jnesbett@institutionalms.comorHudson Technologies,
Inc.Brian F. Coleman, 845-735-6000President &
COObcoleman@hudsontech.com
Hudson Technologies (NASDAQ:HDSN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Hudson Technologies (NASDAQ:HDSN)
Historical Stock Chart
From Apr 2023 to Apr 2024