Hudson Technologies Comments on U.S. International Trade Commission Vote on Antidumping Petition Related to HFCs from China
July 25 2016 - 9:33AM
Business Wire
Hudson Technologies, Inc. (NASDAQ: HDSN) today announced that
the U.S. International Trade Commission (“ITC”) held its final vote
on the antidumping petition related to Hydrofluorocarbon (HFC)
refrigerant blends from China. By unanimous vote, the ITC confirmed
that imports of certain HFC refrigerant blends from China have
caused material injury to the U.S. HFC industry. As a result of
this vote, import duties will be imposed retroactive to February 1,
2016.
The American HFC Coalition filed the antidumping petition in
June 2015, charging that imports of certain HFC blends and
components from China are being sold at less than fair value and
have caused material injury to the U.S. domestic fluoro-chemicals
industry.
The ITC also determined that U.S. industry is not materially
injured or threatened with material injury by reason of certain HFC
blend components imported from China that the U.S. Department of
Commerce previously determined are sold in the U.S. at less than
fair value.
More details can be found on the ITC website:
https://usitc.gov/press_room/news_release/2016/er0722ll633.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.
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version on businesswire.com: http://www.businesswire.com/news/home/20160725005723/en/
Investor Relations:Institutional Marketing
Services (IMS)John Nesbett/Jennifer Belodeau(203)
972-9200jnesbett@institutionalms.comorCompany:Hudson
Technologies, Inc.Brian F. Coleman, President & COO(845)
735-6000bcoleman@hudsontech.com
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