O-I Glass Well Positioned To Capitalize on Eco-Friendly Packaging Trends Despite Near-Term Headwinds

O-I Glass is one of the world's largest glass-container manufacturers, with furnaces in North America, South America, and Europe. The firm turns molten glass into containers for beer, wine, spirits, and food, using standard and custom molds for a wide variety of customers. O-I operates roughly 70 glass plants and serves customers across the world, with the U.S. accounting for its largest region at about 30% of sales. In the past few years, O-I has gone through a portfolio optimization plan to increase its focus on its glass-container business and prioritized regions. As part of this plan, O-I divested its tabletop glass business as well as its Australia and New Zealand operations and is using the proceeds to fund capacity expansion and modernization projects.