H&M, Remondis Create JV To Collect, Sort, Sell Used Garments, Textiles

H & M Hennes & Mauritz AB HM_B:

• CO AND REMONDIS CREATE JOINT VENTURE TO COLLECT, SORT AND SELL USED AND UNWANTED GARMENTS AND TEXTILES

• ANNOUNCES LAUNCH OF LOOPER TEXTILE CO.

• LOOPER’S AIMS TO BECOME PREFERRED FEEDSTOCK PROVIDER TO COMPANIES, INNOVATORS ENGAGED IN TEXTILE RESALE AND RECYCLING

• LOOPER IS STARTING ITS OPERATIONS IN EUROPE

• LOOPER AIMS TO EXTEND HIGHEST USE OF ABOUT 40 MILLION GARMENTS DURING 2023