Ohio Agency Awards Plastics Recycler Low Interest Loan

Mondo Polymer Technologies, located in Reno, Ohio, is receiving a special low-interest loan through the State of Ohio’s 166 Direct Loan Program, which is used to provide loans for land and building acquisitions, expansion or renovation and equipment purchase.

The company will receive a $750,000 166 Direct Loan at an interest rate of one percent for years one and two and four percent for years three through seven for a seven-year term for costs associated with the expansion of its plastic recycling manufacturing facility.

Mondo was established in 1995, and recycles low-end films, including polybags, shrink and stretch wraps, etc.

The company proposes to purchase 29.9 acres of land and construct an 84,000 square-foot facility that will include expanded manufacturing space as well as larger and updated offices for administrative functions.

Mondo will also purchase new machinery and equipment, including plastic extruders and mixing and molding machines. This more than $5 million project is expected to create 30 jobs and retain 44 positions at the project site within the first three years of the project's initial operation.