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O-I Glass to Construct New Glass Plant in Bowling Inexperienced, KY

Perrysburg, Ohio, July 28, 2022 (GLOBE NEWSWIRE) —

  • Follows sturdy shopper development against sustainable packaging
  • Newest innovation in hi-tech and sustainable glass production  
  • First purposely-built MAGMA facility at O-I
  • Aligns with growth plan for winning enlargement
  • As much as $240 million funding in a couple of growth waves over the years; roughly 140 new jobs anticipated to be created

O-I Glass, Inc. (NYSE: OI) will construct a brand new greenfield glass plant in Bowling Inexperienced, KY. Consistent with sturdy shopper tendencies against wholesome, recyclable, and sustainable meals and beverage packaging, the corporate is including capability to enhance its consumers with brand-building top rate glass bins. The corporate plans to speculate as much as $240 million in a couple of growth waves over the years and create roughly 140 new jobs within the area. 

The brand new plant would be the first facility purposely-built for O-I’s progressive MAGMA era this is set to redefine the glass manufacturing procedure for the long run. MAGMA is anticipated to additional reinforce O-I’s features to enhance a couple of product classes and enlarge in as of late’s extremely differentiated product segments. 

The manufacturing facility could also be anticipated to set new requirements in sustainable glass production. The usage of renewable electrical energy, gas-oxy gas, and different cutting edge answers, it’s going to considerably advance O-I’s sustainability roadmap and make glass an much more compelling selection for shoppers, consumers, and the surroundings.

“O-I is made up our minds to be essentially the most cutting edge, sustainable and selected provider of brand-building packaging answers,” mentioned Andres Lopez, CEO of O-I Glass. “The brand new plant is crucial milestone as we proceed the pursuit of our growth plan in the United States and globally, constructing a vivid long run for the corporate and its stakeholders. Glass is extra related than ever, and we’re proud to enhance our consumers with cutting edge answers.”

“We proceed to focus on new employers for the commonwealth which might be serious about longevity, sustainability and developing high quality jobs for Kentuckians,” Gov. Andy Beshear mentioned. “O-I Glass is an organization that meets all of that standards and extra. This new facility in Warren County will create nice task alternatives for our citizens and produce cutting edge new era to Kentucky’s production sector. Thanks to the leaders at O-I Glass for settling on the commonwealth for this crucial funding. I sit up for an extended, a hit partnership between the corporate and our state.” 

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“O-I has a name for excellence that has ended in jobs for over 24,000 staff in 19 other nations. We’re extremely joyful that they’ve selected to develop and put money into Bowling Inexperienced,” mentioned Bowling Inexperienced Mayor, Todd Alcott.

The brand new facility is earmarked to serve the Top class Spirits class. The proximity to key consumers in Bourbon nation will cut back logistics and extra reinforce O-I’s customer support, flexibility, and sustainability. Get started of the primary manufacturing line is anticipated mid-year 2024 adopted by way of as much as two extra manufacturing strains to serve the rising marketplace and persevered construction of MAGMA.
O-I Glass information releases are to be had at the O-I Glass web site at  www.o-i.com.

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About O-I Glass

At O-I Glass, Inc. (NYSE: OI), we adore glass and we’re proud to be one of the vital main manufacturers of glass bottles and jars all over the world. Glass isn’t just gorgeous, it’s additionally natural and entirely recyclable, making it essentially the most sustainable inflexible packaging subject matter. Headquartered in Perrysburg, Ohio (USA), O-I is the most popular spouse for most of the international’s main meals and beverage manufacturers. We innovate in step with consumers’ must create iconic packaging that builds manufacturers around the globe. Led by way of our various staff of greater than 24,000 other people throughout 70vegetation in 19nations, O-I completed web gross sales of $6.4 billion in 2021. Be informed extra about us: o-i.com /Fb / Twitter / Instagram / LinkedIn. The corporate mechanically posts vital knowledge on its web site – www.o-i.com/traders.

Ahead-Taking a look Statements 

This press unencumber incorporates “forward-looking” statements associated with O-I Glass, Inc. (“O-I” or the “corporate”) inside the which means of Phase 21E of the Securities Trade Act of 1934, as amended (the “Trade Act”) and Phase 27A of the Securities Act of 1933, as amended. Ahead-looking statements replicate the corporate’s present expectancies and projections about long run occasions on the time, and thus contain uncertainty and possibility. The phrases “succeed in,” “consider,” “be expecting,” “await,” “will,” “may,” “would,” “must,” “might,” “plan,” “estimate,” “intend,” “are expecting,” “possible,” “proceed,” and the negatives of those phrases and different an identical expressions in most cases determine forward-looking statements.

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It’s imaginable that the corporate’s long run monetary efficiency might range from expectancies because of a number of elements together with, however no longer restricted to the next: (1) the have an effect on of the COVID-19 pandemic and the more than a few governmental, business and shopper movements comparable thereto, (2) the corporate’s skill to procure the advantages it anticipates from the Company Modernization, (3) the corporate’s skill to control its price construction, together with its luck in imposing restructuring or different plans geared toward making improvements to the corporate’s running potency and dealing capital control, and attaining price financial savings, (4) the corporate’s skill to procure or divest companies, achieve and enlarge vegetation, combine operations of bought companies and succeed in anticipated advantages from acquisitions, divestitures or expansions, (5) the corporate’s skill to succeed in its strategic plan, (6) the corporate’s skill to enhance its glass melting era, referred to as the MAGMA program, and put into effect it inside of the time-frame anticipated, (7) foreign currency echange fluctuations relative to the U.S. buck, (8) adjustments in capital availability or price, together with rate of interest fluctuations and the facility of the corporate to refinance debt on favorable phrases, (9) the overall political, financial and aggressive prerequisites in markets and nations the place the corporate has operations, together with uncertainties associated with financial and social prerequisites, disruptions within the provide chain, aggressive pricing pressures, inflation or deflation, adjustments in tax charges and rules, warfare, civil disturbance or acts of terrorism, herbal screw ups, and climate, (10) the corporate’s skill to generate enough long run money flows to make sure the corporate’s goodwill isn’t impaired, (11) shopper personal tastes for choice sorts of packaging, (12) price and availability of uncooked fabrics, hard work, power and transportation (together with affects comparable to the present battle between Russia and Ukraine), (13) consolidation amongst competition and consumers, (14) unanticipated expenditures with admire to information privateness, environmental, protection and well being rules, (15) unanticipated operational disruptions, together with upper capital spending, (16) the corporate’s skill to additional broaden its gross sales, advertising and marketing and product construction features, (17) the failure of the corporate’s three way partnership companions to fulfill their responsibilities or devote further capital to the three way partnership, (18) the facility of the corporate and the 3rd events on which it is predicated for info era device enhance to forestall and come across safety breaches associated with cybersecurity and information privateness, (19) adjustments in U.S. business insurance policies, (20) dangers associated with recycling and recycled content material rules and rules, (21) dangers associated with climate-change and air emissions, together with comparable rules or rules and the opposite possibility elements mentioned within the corporate’s filings with the Securities and Trade Fee. 

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It’s not imaginable to foresee or determine all such elements. Any forward-looking statements on this record are in keeping with positive assumptions and analyses made by way of the corporate in gentle of its enjoy and belief of ancient tendencies, present prerequisites, anticipated long run traits, and different elements it believes are suitable within the instances. Ahead-looking statements don’t seem to be a ensure of long run efficiency and precise effects or traits might range materially from expectancies. Whilst the corporate frequently opinions tendencies and uncertainties affecting the corporate’s effects or operations and monetary situation, the corporate does no longer think any legal responsibility to replace or complement any explicit forward-looking statements contained on this record.

Stefan Weinmann Director of Company Communications [email protected] +41786550010 James Woods PR Lead [email protected] 724-732-5748