HUDSON TECHNOLOGIES EXPANDS ITS
CREDIT FACILITY WITH KELTIC FINANCIAL PARTNERS, L.P.
PEARL RIVER, N.Y. – April 22, 2008 – Hudson Technologies, Inc. (Nasdaq: HDSN), a
leading refrigerant services company specializing in reclamation of
refrigerants and proprietary on-site decontamination services for
large comfort and process cooling systems, today announced that it
has expanded its existing credit facility with Keltic Financial
Partners, LP (“Keltic”) to $15 million.
As of April 17, 2008 the Company, through its subsidiary
Hudson Technologies Company, entered into an amendment of its
existing Loan Agreement with Keltic. By the terms of this
amendment, Keltic has partnered with Bridge Healthcare Finance, LLC
to extend Hudson’s existing credit facility through June 2011, and
to increase Hudson’s total borrowing limit from $10 million to $15
million, with the ability of Hudson to increase the borrowing limit
to $20 million upon meeting certain conditions set forth in the
amended agreement.
“The expansion of our credit line supports our continued
development and growth,” said Kevin J. Zugibe, Chairman and Chief
Executive Officer of Hudson Technologies. “We have worked with
Keltic for nearly five years and appreciate the support and
confidence they’ve shown in Hudson, particularly in the current
lending environment.”
Hudson secured
its first credit facility with Keltic Financial in May 2003 with a
$5 million agreement. In June 2007, the company announced an
expansion of that credit facility to $10 million.
About Hudson
Technologies
Hudson Technologies, Inc. is a leading provider of
traditional reclamation services and refrigerant sales to the
commercial and industrial air conditioning and refrigeration
markets. In addition, the Company provides 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. For
further information on Hudson, please visit the Company's web site
at
www.hudsontech.com.
Safe Harbor
Statement under the Private Securities Litigation Act of 1995
Statements
contained herein, which are not historical facts constitute
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 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
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.
|
Investor
Relations Contact:
John Nesbett/Jennifer Belodeau
Institutional
Marketing Services (IMS)
(203) 972-9200
jnesbett@institutionalms.com
|
Company
Contact:
Brian F. Coleman, President & COO
Hudson Technologies, Inc.
(845) 735-6000
bcoleman@hudsontech.com |
