# SK Global Chemical closes $56.5M equity deal with Loop Industries for Asian joint venture

SK Global Chemical closed a $56.5 million purchase of new treasury common shares of Loop Industries at $12 per share, as part of a strategic partnership to build a minimum of four PET recycling facilities in Asia by 2030, starting with a facility in Ulsan, South Korea.

- Type: Investment
- Announced: 2021-08-02
- Where: Ulsan, South Korea, South Korea
- Value: $56.5M
- Starts operating: 2022
- Status: announced
- Capacity: 400,000 tons of PET plastic and polyester fiber waste annually
- Products: recycled PET plastic, polyester fiber
- Sectors: [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [Loop Industries](https://endata.com/companies/4019.md)
- [SK Global Chemical Co.](https://endata.com/companies/21935.md) (investor)

## Sources

- [loopindustries.com](https://loopindustries.com/loop-industries-and-sk-global-chemical-close-56-5m-strategic-equity-deal-provide-further-update-on-asian-joint-venture-to-manufacture-100-recycled-pet-plastic/), 2021-08-02: "The joint venture intends to build a minimum of four facilities by 2030."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.