Hudson Technologies Awarded Department of Defense Contract with an Estimated Value of $400 mn 51907163

Defence & Security News - Hudson Technologies
 
Hudson Technologies Awarded Department of Defense Contract with an Estimated Value of $400 mn
Hudson Technologies, Inc. (NASDAQ:HDSN) announced that it has been awarded, as prime contractor, a five-year contract including a five-year renewal option, by the United States Defense Logistics Agency (“DLA”) with an estimated maximum value over the term of the agreement of $400 million in sales to the Department of Defense. 
     
Hudson Technologies Awarded Department of Defense Contract with an Estimated Value of 400mn 640 001
     
The fixed price contract is for 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.”
 

 

 

This website uses cookies to manage authentication, navigation, and other functions. By using our website, you agree that we can place these types of cookies on your device.