HUDSON TECHNOLOGIES APPOINTS NEIL GAFARIAN
VICE PRESIDENT FOR SALES AND MARKETING
Seasoned Executive to Spearhead Major New Sales and Marketing Initiatives
PEARL RIVER, N.Y.- February 4, 2002 - Hudson Technologies, Inc. (Nasdaq:
HDSN), a leading refrigerant services company specializing in proprietary
on-site decontamination services for large comfort and process cooling
systems, today announced the appointment of Neil B. Gafarian to the
position of vice president for sales and marketing. Mr. Gafarian, 54,
brings 30 years of highly relevant industry experience and a strong record
of professional success to Hudson Technologies.
Kevin J. Zugibe, chairman and chief executive officer, commented: "Neil is
exactly the person we've been looking for to drive Hudson's comprehensive
new sales and marketing program. One of Hudson's major accomplishments in
2001 was to create a marketing plan tailored to the company's service
depot business model. In 2002, our goal is to aggressively implement this
plan, bringing all the resources of the company to bear on this vital
task. No other company offers Hudson's knowledge, experience and
expertise, or delivers comparable services throughout the country. Neil's
marketing savvy and business acumen, as well as his industry knowledge and
contacts, will enable us to reach out more effectively to potential
customers across the U.S. and to strengthen Hudson's position as a leading
solution provider to our industry."
Mr. Gafarian was most recently director, sales and marketing for
facilities solutions at Invensys plc, a $10 billion British engineering
and controls concern. For the past two years, he headed North American
sales for Invensys Energy Solutions, a $100 million services unit offering
comprehensive energy management solutions and maintenance and repair
services to facilities operations in the U.S. and Canada. Mr. Gafarian
supervised a sales force of nearly 50 people and served a wide range of
customers, including industrial facilities, healthcare facilities,
educational institutions and property management companies. In addition,
Mr. Gafarian, a certified Miller Heiman' trainer, was responsible for all
sales training for Invensys Energy Solutions.
Mr. Gafarian worked with Invensys and its predecessor companies for a
total of eight years. Prior to that, he spent nine years with Honeywell
International, Inc., most recently as a business development manager with
responsibility for selling sophisticated energy performance management
contracts to high-level customer decision-makers in the Northeast.
Thomas P. Zugibe, Hudson's executive vice president, had been serving as
the company's vice president for sales and marketing on an interim basis
since April 2001.
About Hudson: Hudson Technologies, Inc. is a leading provider of
innovative solutions to recurring problems within the refrigeration
industry. Hudson's proprietary RefrigerantSide® Services, which are
provided through a nationwide network of service depots, 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 can be utilized while the customer's system continues to
operate. In addition, the Company sells refrigerants and provides
traditional recovery and reclamation services to the commercial and
industrial air conditioning and refrigeration markets.
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), 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 and other risks detailed in the Company's other
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:
Harriet Fried/Ryan Daniels
Lippert/Heilshorn & Associates
(212) 838-3777
hfried@lhai.com
Contacts: Brian Coleman, President, COO
Hudson Technologies, Inc.
(845) 735-6000
