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Investment In Unconsolidated Subsidiary
12 Months Ended
Dec. 31, 2011
Investment In Unconsolidated Subsidiary

Note 11- Investment In Unconsolidated Subsidiary

 

In July 2011, the Company entered into a joint venture agreement with Safety Hi-Tech S.r.l (“SHT”) and with the principals of Banini-Binotti Associates (“BB”). The joint venture has created a new entity know as Hudson Technologies Europe, S.r.l. (“HTE”). The Company and SHT each own 40% of HTE and BB own the remaining 20%. HTE’s purpose is to develop a business that provides for refrigerant reclamation, RefrigerantSide® services and energy optimization services throughout Europe, the Middle East and North Africa. As of December 31, 2011 the joint venture has not begun operations. In 2012, the Company’s share of the joint venture will be recorded under the equity method.