Glass packaging manufacturer O-I will invest 990 million BRL in two new factories in Brazil, the first movement of expansion for the local industry in the last ten years.
The investment is part of a 680 million USD package that will be dedicated by O-I between 2022 and 2024 to increase production in markets facing restricted supply and the introduction of technology that transforms the glass production process. Currently, between 10 percent and 15 percent of the Brazilian demand for bottles is supplied by imports.
“The new plants will start production in the third quarter of 2023 and, by the summer, the market will have returned to balance,” said Hugo Ladeira, president of O-I South America.
One of the new units will be in the Rio-São Paulo axis and the other in the Southern region, but the exact location of the plants has not yet been decided.