After the acquisition of a majority share in Argentinian firm Cristaleras Rosario, O-I is targeting expansion in Latin America.
Argentina is the third largest market in the region, after Mexico and B…
After the acquisition of a majority share in Argentinian firm Cristaleras Rosario, O-I is targeting expansion in Latin America. Argentina is the third largest market in the region, after Mexico and Brazil, with a production of more than one million tonnes of glass containers per year. Cristaleras, which was founded more than 60 years ago and employs around 230 people, primarily serves the wine market that is the country“s fastest growing sector for container glass. Al Stroucken, O-I chairman and chief executive, said that O-I planned to invest in the two-furnace plant in Rosario, some 300km north of Buenos Aires, to “expand capacity, diversify production and strengthen our ability to serve this growing market”. “The acquisition complements our existing operations in Latin America and enables us to serve a portion of the market we are not currently serving,” he said. O-I has container glass manufacturing operations in Brazil, Colombia, Ecuador, Peru, Venezuela and the Caribbean.