As part of an investor presentation, O-I Glass, Inc. (NYSE: OI) will share its business plan to accelerate the company’s transformation and increase value for all stakeholders.
“Glass containers are a great product that have been trusted for thousands of years. Building off this enduring legacy, glass is more relevant than ever given consumer preferences for health, wellness and sustainability. To meet the packaging market’s evolving needs, we will continue to transform the company, and with our MAGMA solution, O-I will redefine the glass production process for decades to come,” said Andres Lopez, CEO of O-I Glass.
“O-I’s production network is purpose-built to serve a wide array of product categories. MAGMA will further enhance our capabilities to support many of these categories and expand in the highly differentiated product segments, which are aligned to changing consumer preferences. MAGMA also is more flexible and scalable and further improves glass’ position as the most sustainable packaging material available. With MAGMA, we can quickly add capacity in smaller increments, closer to our customers, and at lower capital intensity. This new capability will increase O-I’s right to win in the more differentiated markets. It will enable the company to grow in existing markets and enter new markets with greater flexibility. We are ready to deploy MAGMA, achieve the full potential of glass, and enable profitable growth.
“We have a great product in an attractive market. As part of our transformation, we are developing breakthrough innovations to meet the future requirements of packaging and generate profitable growth. I am proud to share our plan to accelerate O-I’s transformation and increase value for all stakeholders,” said Lopez.