- Follows strong consumer trend towards sustainable
packaging
- Latest innovation in hi-tech and sustainable glass
manufacturing
- First purposely-built MAGMA facility at O-I
- Aligns with expansion plan for profitable growth
- Up to $240 million investment in multiple expansion waves over
time; approximately 140 new jobs expected to be created
O-I Glass, Inc. (NYSE: OI) will build a new greenfield glass
plant in Bowling Green, KY. In line with strong consumer trends
towards healthy, recyclable, and sustainable food and beverage
packaging, the company is adding capacity to support its customers
with brand-building premium glass containers. The company plans to
invest up to $240 million in multiple expansion waves over time and
create approximately 140 new jobs in the region.
The new plant will be the first facility purposely-built for
O-I’s revolutionary MAGMA technology that is set to redefine the
glass production process for the future. MAGMA is expected to
further enhance O-I’s capabilities to support multiple product
categories and expand in today’s highly differentiated product
segments.
The production facility is also expected to set new standards in
sustainable glass manufacturing. Using renewable electricity,
gas-oxy fuel, and other innovative solutions, it will significantly
advance O-I’s sustainability roadmap and make glass an even more
compelling choice for consumers, customers, and the
environment.
“O-I is determined to be the most innovative, sustainable and
chosen supplier of brand-building packaging solutions,” said Andres
Lopez, CEO of O-I Glass. “The new plant is an important milestone
as we continue the pursuit of our expansion plan in the US and
globally, building a bright future for the company and its
stakeholders. Glass is more relevant than ever, and we are proud to
support our customers with innovative solutions.”
“We continue to target new employers for the commonwealth that
are focused on longevity, sustainability and creating quality jobs
for Kentuckians,” Gov. Andy Beshear said. “O-I Glass is a company
that meets all of that criteria and more. This new facility in
Warren County will create great job opportunities for our residents
and bring innovative new technology to Kentucky’s manufacturing
sector. Thank you to the leaders at O-I Glass for selecting the
commonwealth for this significant investment. I look forward to a
long, successful partnership between the company and our
state.”
“O-I has a reputation for excellence that has led to jobs for
over 24,000 employees in 19 different countries. We are thrilled
that they have chosen to grow and invest in Bowling Green,” said
Bowling Green Mayor, Todd Alcott.
The new facility is earmarked to serve the Premium Spirits
category. The proximity to key customers in Bourbon country will
reduce logistics and further enhance O-I’s customer service,
flexibility, and sustainability. Start of the first production line
is expected mid-year 2024 followed by up to two more production
lines to serve the growing market and continued development of
MAGMA. O-I Glass news releases are available on the O-I Glass
website at www.o-i.com.
###
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 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 more than 24,000
people across 70 plants in 19 countries, O-I achieved net sales of
$6.4 billion in 2021. Learn more about
us: o-i.com / Facebook / Twitter / Instagram / LinkedIn. The
company routinely posts important information on its website
– www.o-i.com/investors.
Forward-Looking Statements This press
release contains “forward-looking” statements related to O-I Glass,
Inc. (“O-I” 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 “achieve,” “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 impact of the COVID-19
pandemic and the various governmental, industry and consumer
actions related thereto, (2) the company’s ability to obtain the
benefits it anticipates from the Corporate Modernization, (3) the
company’s ability to manage its cost structure, including its
success in implementing restructuring or other plans aimed at
improving the company’s operating efficiency and working capital
management, and achieving cost savings, (4) 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, (5) the
company’s ability to achieve its strategic plan, (6) the company’s
ability to improve its glass melting technology, known as the MAGMA
program, and implement it within the timeframe expected, (7)
foreign currency fluctuations relative to the U.S. dollar, (8)
changes in capital availability or cost, including interest rate
fluctuations and the ability of the company to refinance debt on
favorable terms, (9) the general political, economic and
competitive conditions in markets and countries where the company
has operations, including uncertainties related to economic and
social conditions, 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, and weather, (10) the company’s ability to generate
sufficient future cash flows to ensure the company’s goodwill is
not impaired, (11) consumer preferences for alternative forms of
packaging, (12) cost and availability of raw materials, labor,
energy and transportation (including impacts related to the current
conflict between Russia and Ukraine), (13) consolidation among
competitors and customers, (14) unanticipated expenditures with
respect to data privacy, environmental, safety and health laws,
(15) unanticipated operational disruptions, including higher
capital spending, (16) the company’s ability to further develop its
sales, marketing and product development capabilities, (17) the
failure of the company’s joint venture partners to meet their
obligations or commit additional capital to the joint venture, (18)
the ability of the company and the third parties on which it relies
for information technology system support to prevent and detect
security breaches related to cybersecurity and data privacy, (19)
changes in U.S. trade policies, (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 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 or operations and financial condition, the
company does not assume any obligation to update or supplement any
particular forward-looking statements contained in this
document.
Stefan Weinmann
Director of Corporate Communications
Stefan.Weinmann@o-i.com
+41786550010
James Woods
PR Lead
James.Woods@o-i.com
724-732-5748
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