Hudson Technologies Wins DoD Contract with Maximum Value of $400 Million
Contract is for the management and supply of refrigerants, compressed gases, cylinders, and related items
PEARL RIVER, N.Y. — Hudson Technologies Inc. announced that it has been awarded, as prime contractor, a five-year contract including a five-year renewal option, by the U.S. Defense Logistics Agency with an estimated maximum value over the term of the agreement of $400 million in sales to the Department of Defense (DoD). The fixed price contract is for the management and supply of refrigerants, compressed gases, cylinders, and related items to U.S. military commands and installations, federal civilian agencies, and foreign militaries. Primary users include the U.S. Army, Navy, Air Force, Marine Corps, and Coast Guard.
Kevin Zugibe, chairman and CEO of Hudson Technologies, said, “This award was two years in the making and represents a transformative win for Hudson. In January of 2015, we executed a strategic acquisition of a West Coast based supplier of refrigerants and compressed gases to expand our presence in the industrial gas sectors. This acquisition provided us with complementary capabilities to subsequently bid on, and ultimately win, this large DoD contract. While the ultimate amount of revenue will depend on order levels, this award solidifies our presence in the refrigerants and industrial gas sectors and we believe will contribute considerable future revenue and earnings growth.”
Hudson’s proprietary RefrigerantSide® Services are designed to remove moisture, oils, and other contaminants frequently found in the refrigeration circuits of large comfort cooling and process refrigeration systems, to increase operating efficiency and provide energy savings. Performed at a customer’s site as part of a 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 high purity levels, and can be accomplished 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 more information, visit www.hudsontech.com.
Publication date: 7/28/2016