O-I examines closure of “at least 7%” of total capacity by mid-2025
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The US glass group O-I is considering the elimination of “at least 7%” of its total capacity by mid-2025.
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Company news
Management is striving to reduce unprofitable and redundant capacity in order to increase productivity, O-I announced as part of the announcement of its quarterly results on October 29. According to the company, the reduction of 7% of capacity could generate annual savings of US$ 100 million.
It also said that of the 7%, O-I had already announced the permanent or indefinite closure of approximately 4% of capacity. As reported, the US glass group is planning the permanent closure of a furnace at its Maastricht plant, for example.
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