Australia's Close The Loop rises, production line on track to resume operation

Close The Loop

22/06/2022 03:25

** Shares of recycling solutions firm Close The Loop
 CLG.AX  leap as much as 10.6% to A$0.365, post their best
intraday pct gain since June 1
    ** Co says TonerPlas production line, which was affected by
a fire earlier in June, is on track to resume full-scale
production by the end of 2022  urn:newsml:reuters.com:*:nASXbd2GKJ
    ** TonerPlas is an asphalt additive used in laying roads
    ** Co had earlier estimated that the production line would
be offline for six months due to the fire  urn:newsml:reuters.com:*:nL4N2XX0AN 
    ** Co has identified other manufacturing alternatives for
TonerPlas with third parties in the near- to medium-term
    ** Collection operations, which contribute the most
financially from the site, largely unaffected by fire;
operations resumed in four business days - co
    ** Stock hits highest level since June 14
    ** CLG up 10% this year, as of last close

 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))