PEARL RIVER, NY – March 23, 2017 – 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:
https://www.usitc.gov/press_room/news_release/2017/er0323ll743.htm.
