Hudson
Technologies Announces Opening Of Service Depot In Chicago, Illinois
Launch
Is Part Of Strategy To Improve Profitability By Offering Company’s
Unique Services In Markets That Have High Concentration of Chillers
PEARL RIVER, New York – Hudson Technologies, Inc., (NASDAQ:
HDSN), a service provider to the comfort cooling and refrigeration
industry, today announced it has opened a rapid-response service
depot in Chicago, Illinois. Industry data ranks Chicago as having the second highest
concentration of installed chillers in the United States, making
Chicago a prime target for Hudson and its RefrigerantSide™
Services. The Company estimates that the size of the Chicago market
for Hudson’s high margin services could be as large as $30
million.
“Chicago
was selected as a site for a depot because it has a high
concentration of large comfort cooling and process refrigeration
systems that could benefit from Hudson’s proprietary
technology,” said Kevin Zugibe, Chairman and Chief Executive
Officer of Hudson. “The introduction of these depots, which offer
our unique services to the refrigeration industry, is a critical
element of our plans to rapidly grow our higher-margin service
business and create greater shareholder value. In the coming weeks
and months, we anticipate announcing the opening of additional
depots across the country.”
The
company said the Chicago service depot is staffed by experienced
technicians equipped with rapid-recovery vehicles and the
company’s patented Zugibeast refrigerant decontamination system.
Founded in 1991, Hudson Technologies, Inc., has developed
proprietary technology and specialty services designed to remove
impurities frequently found in the refrigeration circuits of large
comfort cooling and process refrigeration systems.
These contaminants deteriorate performance, cause air
conditioning system outages and interrupt production. Hudson’s
technology removes impurities rapidly without having to take the
cooling system offline, offering very significant savings to
customers. This
technology has reduced system downtime by as much as 80 percent when
compared with conventional repair methods.
Safe
Harbor statement under the Private Securities Litigation Act of
1995: Statements contained herein, which are not historical facts,
constitute forward-looking statements that 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 markets for
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, and other risks detailed in the
Company’s annual and other periodic reports filed with the
Securities and Exchange Commission.
The words “believe,” “expect,” “anticipate,”
“may,” “plan” 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.
Contact:Troy
McCombs
Coltrin & Associates
(212)
221-1616 |
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