Owens-Illinois, Inc. (NYSE: OI) is announcing a significant investment in its European glass operation supported by long-term customer agreements. This investment will enable O-I to grow in premium segments, increase capability and flexibility, as well as improve the company's environmental footprint.

 

O-I will invest more than $60 million to expand its plant in Gironcourt, France. Plans include building a new furnace for a total of three furnaces at the plant when the expansion project is completed in early 2020. The expansion at Gironcourt will focus on the growing premium beer segment which is highly differentiated and uses unique bottle shapes to build strong, premium brand equity.

 

"Our customers recognize that glass brings unique brand building capabilities. It delivers what consumers want - premium, healthy and sustainable packaging," said Andres Lopez, CEO, "The expansion at Gironcourt is an important part of O-I's investment strategy to support the growing demand for glass in premium segments."

 

This expansion supporting organic growth follows the recent transaction to acquire nearly 50 percent interest in Empresas Comegua S.A., the leading manufacturer of glass containers for the Central American and Caribbean markets. This inorganic growth investment connects the Company's footprint across the Americas - extending from Canada to Argentina.

 

O-I is also driving innovation in the glass segment evidenced by the development of MAGMA, a revolutionary breakthrough initiative to reimagine glassmaking with transformational technology and new processes. Additionally, O-I recently launched O-I : EXPRESSIONS, a direct-to-glass digital printing technology offering customization at speed, value and flexible volumes.