O-I Enters Argentinean Market
Acquisition gives company launching pad for regional expansion
PERRYSBURG, Ohio, March 18 /PRNewswire-FirstCall/ -- Owens-Illinois, Inc. (O-I) today announced it has acquired the majority share of Argentinean glassmaker Cristalerias Rosario, giving O-I its first entree into the rapidly growing Argentinean market.
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Argentina's glass container market is the third largest in Latin America, following Mexico and Brazil, with more than one million tonnes in sales per year. The wine category represents the largest and most rapidly growing part of the country's glass container market, and is the primary category served by Cristalerias Rosario.
"This acquisition supports our strategic priority of expanding in markets with strong growth potential," said Al Stroucken, O-I chairman and CEO. "It complements our existing operations in Latin America and enables us to serve a portion of the region we currently are not serving. We intend to invest in Cristalerias Rosario over time to expand capacity, diversify production and strengthen our ability to serve this growing market."
Cristalerias Rosario is a two-furnace plant located in Rosario, Argentina. The more than 60 year-old operation employs approximately 230 people.
About O-I
Millions of times a day, O-I glass containers deliver many of the world's best-known consumer products to people all around the world. With the leading position in Europe, North America, Asia Pacific and Latin America, O-I manufactures consumer-preferred, 100 percent recyclable glass containers that enable superior taste, purity, visual appeal and value benefits for our customers' products. Established in 1903, the company employs more than 22,000 people with 78 plants in 21 countries. In 2009, net sales were $7.1 billion. For more information, visit http://www.o-i.com.
SOURCE Owens-Illinois, Inc.
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