To seehow the world`s leading process manufacturers rely on AspenTech to achieve theiroperational excellence goals visit © 2009 Aspen Technology Inc
To seehow the world`s leading process manufacturers rely on AspenTech to achieve theiroperational excellence goals, visit © 2009 Aspen Technology, Inc. AspenTech, aspenONE, the Aspen leaf logo, and the7 Best Practices of Engineering Excellence are trademarks of Aspen Technology,Inc All rights reserved All other trademarks are property of their respectiveowners. Media ContactAspenTechDavid Grip, +1 orInvestor ContactICRKori Doherty, +1 Copyright Business Wire 2009. New Facility Optimizes Processing Efficiency in Preparation for Upcoming EPAPhase Out of R-22 RefrigerantsPEARL RIVER, N.Y.–(Business Wire)–Hudson Technologies, Inc.
(NASDAQ: HDSN), a leading distributor and reclaimer ofrefrigerants as well as a provider of proprietary on-site decontaminationservices for large comfort and process cooling systems, today announced that ithas opened a new 60,000 square foot warehouse and reclamation facility inChampaign, Illinois. The new facility complements Hudson`s existing 50,000square foot facility and will increase Hudson`s production capacity andprocessing efficiency for the reclamation of refrigerants Kevin J. Zugibe, Chairman and Chief Executive Officer of Hudson Technologiescommented, “Hudson is an established leader in the reclamation industry, and tomaintain and strengthen that leadership position we needed to increase ourreclamation capacity in preparation for what is estimated to be a nearlyfour-fold increase in the reclamation of HCFC refrigerants. The upcoming EPAphase out of HCFCs, now less than 7 months away, will reduce the supply of newHCFC refrigerants by more than 60% from current levels.
As a result, the EPA hasestimated that as of January 1, 2010 the demand for HCFC refrigerants needed toservice existing equipment will exceed the available supply of new HCFCrefrigerants by approximately 20%. This 20% supply gap is expected to be filledby reclaimed and recycled refrigerant. “Earlier this year we announced the introduction of the Hudson Platinum Programas an all inclusive reclamation offering specifically designed to assistcustomers in maximizing the recovery and reclamation of HCFC refrigerants. Wehave already had a very good response from our customers and we believe that ourPlatinum Program will continue to demonstrate Hudson`s leadership throughout theupcoming phase out.
“In preparation for the phase out, we reviewed our operations and refined ourmanufacturing processes to recognize greater efficiencies on a `per pound`basis, and with our proven reclamation infrastructure and production model, wewere able to ramp up the new facility quickly and with minimal capitalinvestment. With this new facility we have increased our capacity and have takena critical step towards addressing the sweeping changes soon to impact ourindustry and the anticipated increase in reclamation activity that we believethose changes will bring in the coming years. We will endeavor to remainproactive to the changing market forces by continuing to evaluate our operationand, where appropriate expand, our capabilities in order to take advantage ofopportunities that arise as the industry continues to adjust to the mandatoryHCFC phase out.” About Hudson TechnologiesHudson Technologies, Inc. is a leading provider of innovative solutions torecurring problems within the refrigeration industry.
Hudson’s proprietaryRefrigerantSide® Services increase operating efficiency and energy savings, andremove moisture, oils and other contaminants frequently found in therefrigeration circuits of large comfort cooling and process refrigerationsystems. Performed at a customer’s site as an integral part of an effectivescheduled maintenance program or in response to emergencies, RefrigerantSide®Services offer significant savings to customers due to their ability to becompleted rapidly and at higher purity levels, and can be utilized while thecustomer’s system continues to operate. In addition, the Company sellsrefrigerants and provides traditional reclamation services to the commercial andindustrial air conditioning and refrigeration markets. For further informationon Hudson, please visit the Company’s web site at Safe Harbor Statement under the Private Securities Litigation Act of 1995Statements contained herein, which are not historical facts constituteforward-looking statements involve a number of known and unknown risks,uncertainties and other factors which may cause the actual results, performanceor achievements of the Company to be materially different from any futureresults, performance or achievements expressed or implied by suchforward-looking statements.