PARIS, Jan 16 (Reuters) – Plastics production and clean technology company Loop Industries (LOOP.O) said it had decided to establish a new site in Normandy, northern France, which would create 180 full-time jobs.
Loop Industries added the new site at Port-Jérôme-sur-Seine would receive around 250 million euros ($286.4 million) worth of investments and would focus on manufacturing recycled polyethylene terephthalate (‘PET’) plastic and polyester fiber.
“I am delighted that this new facility will benefit the strong French ecosystem of packaging: this investment will contribute to the transition of our country towards a more sustainable, low-carbon economy,” added French junior industry minister Agnès Pannier-Runacher in a statement.
($1 = 0.8728 euros)
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Reporting by Sudip Kar-Gupta;
Editing by Dominique Vidalon
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