O-I Glass Plots $680 Million in Capacity Investments

O-I Glass plans to invest up to $680 million in new investments in the 2022-24 period.The largest container glass manufacturer in the world said the investment would address supply-constrained geographies and categories.

In a statement to investors, CEO Andrea Lopez said the investments are expected to generate a 20% average internal rate of return. He said that in addition to a current project underway in Colombia, plans include up to 11 MAGMA lines. Three lines will each be located in Peru, Brazil, the US, with a further two in the UK.

The company said the investments will expand O-I’s franchise position in high growth and high value markets in Latin America and the oversold spirits category in the US and UK.