PEARL RIVER, N.Y.--(BUSINESS WIRE)--Hudson Technologies, Inc. (NASDAQ:HDSN) announced its support of today’s U.S. International Trade Commission (“ITC”) final vote on the antidumping petition related to R-134a (HFC-134a) from China. By this vote, the ITC found that the U.S. industry producing R134a is materially injured by reason of imports of R-134a from China that are sold in the U.S. at less than fair value. As a result of this vote, the U.S. Department of Commerce (“Commerce”) will issue an antidumping duty order on imports of R-134a from China which will impose antidumping duties ranging from 148.79 percent to 167.02 percent.
Kevin Zugibe, Chairman and CEO of Hudson Technologies, commented, “We fully support the ITC’s decision to enforce antidumping duties, which we believe will restore balance in the market and address the low price levels the U.S. industry has experienced over the last several years. As a next generation refrigerant already targeted for phase out, HFCs represent a tremendous opportunity for our Company for both distribution and reclamation. We applaud the ITC’s conclusion and look forward to the anticipated positive near-term impact of this decision on our industry related to increased HFC pricing and in turn, improved operating results.”
The American HFC Coalition filed the antidumping petition in March 2016, charging that imports of R-134a from China are being sold at less than fair value and have caused material injury to the U.S. domestic industry producing R-134a.
More details can be found on the ITC website:
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.
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