Close the Loop receives IMMEX approval for Mexicali plant
Key points
- Received approval from the Manufacturing, Maquiladora, and Export Services Industry Program in Mexico (IMMEX) to begin processing product at the Mexicali Plant
- Mexicali Plant has been operationally ready for several months and will begin processing inventory from April 2025
- Opening of the Mexicali Plant is an important step in Close the Loop's expansion in the ITAD sector
Full summary
Close the Loop Limited ('Close the Loop' or the 'Company') (ASX: CLG), the circular economy industry leader, is pleased to announce that it has received approval from the Manufacturing, Maquiladora, and Export Services Industry Program in Mexico (IMMEX) to begin processing product at the Company's Mexicali Plant, near the US-Mexico border. The Mexicali Plant has been operationally ready for several months and, with IMMEX approval now received, the Company will now begin processing inventory from April 2025, ramping up production volumes in Q4 FY25 and with an expected material impact on revenue for FY26. The opening of the Mexicali Plant is an important step in Close the Loop's expansion in the ITAD sector. This facility will help support the Company's OEM partners with certified refurbished product and services.
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