News
Polar Technology sold to Hudson Technologies Company

Polar Technology was sold to Hudson Technologies Company. There will be no changes at the moment for members working with Polar Technology. Please read the letter below for more details.

Dear Unified Group:

Effective on midnight, Wednesday, November 5, 2014, the refrigerant reclamation operations of Polar Technology will be sold to Hudson Technologies Company (www.hudsontech.com/ NASDAQ: HDSN).

As you know, for the past 21 years, Polar Technology has been among the highest in efficiency for refrigerant reclamation services in the country, most currently through our facilities in Tennessee, California and Puerto Rico. Our Banking, Clean & Return, Buy-Back and Certified Cylinder Exchange programs have helped set industry standards and enable our customers to profitably manage refrigerant programs in addition to maintaining exceptional environmental integrity.

In the past three years, Polar has embarked on the development of TrakRef®, our software initiative that enables all points along the distribution channel (distributor, contractor & system owner) to effectively and profitably track and manage refrigerants that pass along the channel. Polar has also been using TrakRef® to manage the refrigerant transactions between our reclamation facilities and our direct customers. TrakRef® is a program that is gaining national acclaim and customer acceptance, all of which gives us a significant indication that the program has merit and warrants further development and focus on our part.

Given the success that TrakRef® has achieved over the short amount of time it has been in practice, I have decided that the software platform is the area where I need to focus my time, energy and resources. This decision led me to engage in discussions with Hudson Technologies, Inc. regarding integrating the two refrigerant reclamation companies into one strong national organization.

I know the first questions you will have will focus on the changes this transaction will have on your current refrigerant program and how you currently do business with Polar Technology. The short answer is – there will be no change at all! Hudson and Polar have focused on achieving a seamless transition and on ensuring that nothing changes in your current refrigerant program, allowing you to continue to focus on your operations.

  •  The program you currently have in place with Polar Technology will not change.
  • The status of your Clean & Return, Banking and Cylinder Exchange program will not change.
  • Your accounting status will not change.
  • The people you regularly work with at Polar Technology will not change (except for me, of course).
  • If you currently use or are planning on using TrakRef® as part of yourefrigerant management program, that will not change.

In fact, the only change you will see in your refrigerant operations will be the presence of the Hudson logo on the forms and in the communications you have regarding your refrigerant management program.

There are, however, some significant benefits that you will receive as a result of Hudson’s new role in your business:

  •  Bringing to 13, the number of reclamation and/or refrigerant stocking points across the U.S. and Puerto Rico increasing the reclamation capacity as well as the availability of virgin refrigerants.
    • Charlotte, NC (Hudson)
    • Stony Point, NY (Hudson)
    • Champaign, IL (Hudson)
    • Baton Rouge, LA (Hudson) o Auburn, WA (Hudson)
    • Phoenix, AZ (Hudson) o Denver, CO (Hudson)
    • Houston, TX (Hudson)
    • Dallas, TX (Hudson)
    • Oakland, CA (Hudson)
    • Nashville, TN (Polar) o Ontario, CA (Polar)
    • Puerto Rico (Polar)
  •  Accessibility to Hudson’s ChillSMART® program, designed to evaluate the systems with the greatest need for service
  • Hudson’s R-22 Guarantee program (a key program now that the EPA’s final rule has reduced allocations)
  • Hudson’s AHRI certified refrigerant testing laboratory, one of only three in the U.S.
  • Hudson’s RefrigerantSide® services and engineering capabilities.

I invite you to visit Hudson’s website (www.hudsontech.com) and learn more about the great programs they have in place for effective and efficient refrigerant management.

Finally, it has been my pleasure to work with you and your company, some of you for the entire 21 years of Polar’s existence. My focus has always been on providing you with the most efficient, profitable and environmentally responsible refrigerant management program in the industry. I know that the Polar team (now part of the Hudson team) will work even harder to ensure that you are satisfied with your refrigerant management program.

If, in the meantime, you have any questions, please contact your normal Polar representative.

Thank you for the many years we have shared and I wish you nothing but the best.

 Sincerely,

Ted Atwood