Owens-Illinois, Inc. (NYSE: OI) announced today that it has reached a definitive agreement with Vitro, S.A.B. de C.V. (BMV: VITROA), to acquire Vitro's food and beverage glass container business in an all-cash transaction valued at approximately $2.15 billion. Vitro is the largest supplier of glass containers in Mexico. The transaction, which has been approved by the boards of directors of both companies, is subject to approval by Vitro's shareholders and customary regulatory approvals. The deal is expected to close within 12 months. The transaction provides O-I with a competitive position in the attractive and growing glass segment of the packaging market in Mexico, further enhancing O-I's position as the world's foremost glass container producer. The agreement includes Vitro's five plants in Mexico and one in Bolivia, which together employ 4,700 people. The current leadership of Vitro's food and beverage glass container business will remain in place following the transaction close.
This February Rapak and Worldwide Dispensers will showcase its Mustang™ front push dispensing tap to the Eastern European market for the first time. Mustang dispensing tap extends wine shelf life to as long as 12-16 weeks after opening.
Mustang front push dispensing tap’s uniqueness relies in the lowest oxygen transmission rate (OTR) in the market which significantly extends the shelf life of oxygen-sensitive products. When used on wine flexible bags or pouches, Mustang keeps wine fresh for an impressive four months after it is opened. This makes the Mustang dispenser ideal for sporadic consumption at home and for restaurants and bars serving wine by the glass. Mustang taps also allow customers to pour and dispense wine from the Bag-in-Box or Stand Up Pouch with one hand.