LEADING US refrigerant company Hudson is expanding into Europe in a joint venture with two Italian firms.
Hudson, a US refrigerant supplier has entered into a joint venture agreement with Europe-based Safety Hi-Tech S.r.l. (SHT) and Italian environmental and energy consultants Banini-Binotti Associates, for the development of reclamation, remediation and energy optimisation services throughout most of Europe, the Middle East and North Africa.
The joint venture will create a new Italy-based company known as Hudson Technologies Europe S.r.l. The European refrigerant aftermarket alone is estimated at over $700 million or approximately 70 per cent of the US refrigerant aftermarket. Hudson says there is a strong demand for its energy optimisation and emissions reducing services due to the strict regulatory environment in Europe.
Hudson and SHT will each own 40 per cent of the new company and BB will own 20 per cent. Using equipment and technology supplied and licensed by Hudson, the new company will market Hudson's full suite of products and services, with an emphasis on Hudson's energy optimisation services.
Hudson Technologies Europe will also provide reclamation support to SHT for the recycling and resale into the refrigeration market of refrigerants which are not only used in ac systems but also used in most other fire suppression systems, including SHT's. The parties have already made significant progress towards launching this joint venture, including the construction of equipment, facility layout and sourcing of refrigerants.
