Australia's Close The Loop rises on acquisition of packaging business

Close The Loop

07/02/2022 04:10

** Shares of the battery recycling solutions co  CLG.AX 
rise as much as 5.3% to A$0.300, their highest level since Jan
31 
    ** Close The Loop says it has fully acquired bulk packaging
business Crasti & Co in Sydney for A$5.9 mln ($4.17
mln) urn:newsml:reuters.com:*:nASXbg0TNF
    ** Adds that the deal is anticipated to add ~$2.78 mln in
gross profit on a proforma statutory FY22 annualised basis
    ** More than 546,600 shares change hands, as compared with
the 30-day average volume of ~238,800 shares  
    ** Stock down 5% this year, as of last close 

    ($1 = 1.4132 Australian dollars)

 (Reporting by Roushni Nair in Bengluru)
 ((Roushni.Nair@thomsonreuters.com;))