Hudson wins $400m refrigerant contract
19th July 2016
USA: Hudson Technologies has been awarded a five-year refrigerant supply contract worth up to $400m from the US Department of Defense.
The contract includes a five-year renewal option and covers the management and supply of refrigerants, compressed gases, cylinders and related items to US military commands and installations, Federal civilian agencies and foreign militaries. Primary users include the US Army, Navy, Air Force, Marine Corps and Coast Guard.
Kevin Zugibe, chairman and CEO of Hudson Technologies, commented, “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.”
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