O-I Glass, Inc. (“O-I Glass” or “O-I”) recently completed a major
transformation of its Zipaquira, Colombia manufacturing site
investing approximately $120 Million to upgrade the sustainability,
flexibility, and productivity of the plant. This is consistent with
O-I's sustainability strategy, the company’s ongoing investments
into plant upgrades, and aligned with its previously announced
capital spending plan.
A new furnace has been installed that incorporates well-proven
oxy/fuel combustion and waste heat recovery technology.
The investments are set to increase O-I's flexibility to serve
strategic customers and emerging segments in the food and beverage
sector and improve energy efficiency, lowering CO2 emissions by up
to 15% per ton produced on the new furnace. In addition to the
decarbonization impacts, the new technologies also reduce NOX
emissions by up to 50 % compared to a traditional air fuel-fired
furnace and allow for higher usage of recycled glass.
“This investment exemplifies O-I’s approach of using vision and
innovation to transform how glass is made.” said Randy Burns, O-I
Glass Chief Sustainability & Corporate Affairs Officer “It
continues our practice of intelligently applying technology to move
closer to the equilibrium that sustainability represents. It is
part of O-I’s commitment and strategy to achieve our stated 2030
target of reducing greenhouse gas emissions by 25 percent.”
At the Zipaquira plant, one of the largest O-I plants in Latin
America with more than 700 employees, approximately 100 new jobs
were created in conjunction with the new furnace along with a
larger number of indirect jobs in the region.
“We are proud of our advancements in Zipaquira, upgrading the
sustainability, technology innovation, safety, quality and
productivity of our plant” said Alvaro Suarez, Managing Director
for O-I Andean Region. “This investment is having a positive impact
on community development, aligned with our commercial strategy and
the projected market growth, representing growth opportunities for
our Company.”
About O-I
Glass
At O-I Glass, Inc.
(NYSE: OI), we love glass and we’re proud to be one of the leading
producers of glass bottles and jars around the globe. Glass is not
only beautiful, it’s also pure, healthy, and completely recyclable,
making it the most sustainable rigid packaging material.
Headquartered in Perrysburg, Ohio (USA), O-I is the preferred
partner for many of the world’s leading food and beverage brands.
We innovate in line with customers’ needs to create iconic
packaging that builds brands around the world. Led by our diverse
team of approximately 23,000 people across 68 plants in 19
countries, O-I achieved revenues of $7.1 billion in 2023.
Learn more about us: o-i.com / Facebook / Twitter / Instagram
/ LinkedIn
Forward-Looking
Statements
This press release
contains “forward-looking” statements related to O-I Glass, Inc.
(“O-I Glass” or the “company”) within the meaning of Section 21E of
the Securities Exchange Act of 1934, as amended (the “Exchange
Act”) and Section 27A of the Securities Act of 1933, as amended.
Forward-looking statements reflect the company’s current
expectations and projections about future events at the time, and
thus involve uncertainty and risk. The words “believe,” “expect,”
“anticipate,” “will,” “could,” “would,” “should,” “may,” “plan,”
“estimate,” “intend,” “predict,” “potential,” “continue,” and the
negatives of these words and other similar expressions generally
identify forward-looking statements.
It is possible that
the Company’s future financial performance may differ from
expectations due to a variety of factors including, but not limited
to the following: (1) the general political, economic and
competitive conditions in markets and countries where the Company
has operations, including uncertainties related to economic and
social conditions, trade disputes, disruptions in the supply chain,
competitive pricing pressures, inflation or deflation, changes in
tax rates and laws, war, civil disturbance or acts of terrorism,
natural disasters, public health issues and weather, (2) cost and
availability of raw materials, labor, energy and transportation
(including impacts related to the current Ukraine-Russia and
Israel-Hamas conflicts and disruptions in supply of raw materials
caused by transportation delays), (3) competitive pressures,
consumer preferences for alternative forms of packaging or
consolidation among competitors and customers, (4) changes in
consumer preferences or customer inventory management practices,
(5) the continuing consolidation of the Company’s customer base,
(6) the Company’s ability to improve its glass melting technology,
known as the MAGMA program, and implement it within the timeframe
expected, (7) unanticipated supply chain and operational
disruptions, including higher capital spending, (8) seasonability
of customer demand, (9) the failure of the Company’s joint venture
partners to meet their obligations or commit additional capital to
the joint venture, (10) labor shortages, labor cost increases or
strikes, (11) the Company’s ability to acquire or divest
businesses, acquire and expand plants, integrate operations of
acquired businesses and achieve expected benefits from
acquisitions, divestitures or expansions, (12) the Company’s
ability to generate sufficient future cash flows to ensure the
Company’s goodwill is not impaired, (13) any increases in the
underfunded status of the Company’s pension plans, (14) any failure
or disruption of the Company’s information technology, or those of
third parties on which the Company relies, or any cybersecurity or
data privacy incidents affecting the Company or its third-party
service providers, (15) risks related to the Company’s indebtedness
or changes in capital availability or cost, including interest rate
fluctuations and the ability of the Company to generate cash to
service indebtedness and refinance debt on favorable terms, (16)
risks associated with operating in foreign countries, (17) foreign
currency fluctuations relative to the U.S. dollar, (18) changes in
tax laws or U.S. trade policies, (19) the Company’s ability to
comply with various environmental legal requirements, (20) risks
related to recycling and recycled content laws and regulations,
(21) risks related to climate-change and air emissions, including
related laws or regulations and increased ESG scrutiny and changing
expectations from stakeholders and the other risk factors discussed
in the Company's filings with the Securities and Exchange
Commission.
It is not possible to
foresee or identify all such factors. Any forward-looking
statements in this document are based on certain assumptions and
analyses made by the Company in light of its experience and
perception of historical trends, current conditions, expected
future developments, and other factors it believes are appropriate
in the circumstances. Forward-looking statements are not a
guarantee of future performance, and actual results or developments
may differ materially from expectations. While the Company
continually reviews trends and uncertainties affecting the
Company’s results of operations and financial condition, the
Company does not assume any obligation to update or supplement any
particular forward-looking statements contained in this
document.
James Woods
Corporate Affairs
james.woods@o-i.com
Grafico Azioni OI Glass (NYSE:OI)
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Da Mag 2024 a Giu 2024
Grafico Azioni OI Glass (NYSE:OI)
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