The US refrigerant sales and reclamation services provider achieved record revenues of $79.7m for the year ended December 31, 2015, a 43% increase on 2014’s $55.8m. The increase was primarily attributed to an increase in sales volumes for refrigerants, and the higher selling price of certain refrigerants.
“Our growth for the full year was driven by increased sales volume from certain refrigerants, coupled with a higher average selling price for R22 refrigerant through the nine-month refrigerant season,” commented Kevin J Zugibe, Hudson’s chairman and CEO.
“We continue to work with our customers and look to expand our customer base and grow our revenues through our reclamation capabilities, which apply not only to the phase out of R22 production that is currently underway, but also apply to the reclamation of HFC refrigerants, the replacement refrigerants for R22 and CFCs.”
A major driver is the environmental concern surrounding the high global warming potential of HFCs and the phase down discussions at the Montreal Protocol and Climate Change meetings.
“We are encouraged by these developments and remain committed to doing our part to curb the emission of greenhouse gases by promoting our reclamation capabilities and the environmental benefits of using reclaimed refrigerants,” said Zugibe.