US-based Owens-Illinois, Inc. has further consolidated its position in South America. The glass and plastic containers manufacturer has announced the acquisition of Colombian glass container manufactu…
US-based Owens-Illinois, Inc. has further consolidated its position in South America. The glass and plastic containers manufacturer has announced the acquisition of Colombian glass container manufacturer Compania Nacional de Vidrios, S.A. (Conalvidrios) and of Peruvian glassworks Cia. Manufacturera de Vidrio del Per Ltda. (CMVP). Owens-Illinois says it will now be the sole supplier of glass contianers in both countries. In the view of Joseph H. Lemieux, Owens-Illinois“ president and CEO, both the Colombian and Peruvian glass markets offer high potential in the long term. Annual per capita consumption of glass is currently around 30 in Colombia and 10 in Peru, compared with 100 in the US. Lemieux adds that both new acquisitions may involve restructuring on an economic basis.