Ionics, Inc.'s Board Approved the Construction of a Standard Factory Building and Solar Panel Project

​The Board of Directors of Ionics, Inc. and its wholly owned subsidiary, Ionics Properties, Inc. (IPI), approved the construction of a standard factory building located at IPI's property at the LISP IV, Malvar, Batangas. The project is estimated to have a total cost of US$6.8 million which will be partly financed through a bank loan.

At the same time, the Board of Directors of IPI approved a loan in an amount from US$3.5 million to US$5.2 million from Rizal Commercial Banking Corporation (RCBC) to be secured by a mortgage on IPI's property at LISP IV, Malvar, Batangas.
 
Finally, the Board of Directors of Ionics, Inc. and its subsidiary, Ionics EMS, Inc. (EMS), approved the proposed Solar Panel Project to install solar panels on the roofs of Plants 2 and 5/6 at a cost estimated at US$1.13 million to be financed partially through a bank loan. It is expected that the project will result in savings on EMS's power requirements and contribute to the environment and its sustainability goals.