MONTREAL, QC / ACCESSWIRE / May 15, 2023 / Loop Industries, Inc. (Nasdaq:LOOP) (the "Company" or "Loop"), a clean technology company whose mission is to accelerate a circular plastics economy by manufacturing 100% recycled polyethylene terephthalate ("PET") plastic and polyester fiber and On AG ("On"), a sportswear brand and a subsidiary of On Holding AG, today announced a Letter of Intent ("LOI") has been signed by On to secure volumes of 100% recycled virgin quality Loop™ PET resin from the upcoming Asian Infinite Loop™ manufacturing facility in Ulsan, South Korea, which Loop is planning with its strategic partner SK Geo Centric. The Ulsan manufacturing facility is anticipated to break ground by end of this year.
Loop Industries Announces Signed Letter of Intent With On AG to Secure Volumes From Planned Infinite Loop(TM) Manufacturing Facility in Ulsan, South Korea
May 15, 2023
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