POST Online Media Lite Edition



 

Owens-Illinois gives $2.15 billion for Vitro business to enter Mexico

Staff writer |
Owens-Illinois (O-I) has completed the acquisition of the Vitro food and beverage glass container business from Vitro, S.A.B. de C.V. in a transaction valued at approximately $2.15 billion.

Article continues below






Vitro is the largest supplier of glass containers in Mexico and manufactures glass containers across multiple end uses, including food, soft drinks, beer, wine and spirits.

The transaction includes Vitro's five food and beverage glass container plants in Mexico, a plant in Bolivia and the food and beverage business of Vitro Packaging, its North American distribution business based in Plano, Texas, which together employ nearly 6,000 people.

The transaction provides O-I with a competitive position in the attractive glass segment of the packaging market in Mexico, further enhancing O-I's position as the world's foremost glass container producer.

O-I expects the transaction to be accretive to earnings and cash flow in the first year. The company anticipates that in the third year after closing, EPS accretion will reach approximately $0.50 per share.

The transaction has received Vitro shareholder approval, as well as relevant regulatory approvals in the U.S. and Mexico.


What to read next

Owens & Minor to buy ArcRoyal of Ireland
Owens Corning to acquire InterWrap in $450 million deal
Owens Corning to acquire Paroc Group for €900 million

Heat continues in southwest U.S.; severe thunderstorms in Central Plains

 
Upper-level energy, a weak front, and a surge of moisture moving northward over the Southern Plains into the Central Plains will trigger showers and severe thunderstorms over parts of the Central Plains.
 
 

Latest

U.S. oil and gas rig count falls to 594
Passenger train hits freight train in Czech Republic, 4 killed, 27 injured
Deutsche Aircraft starts final assembly line construction, will create up to 350 jobs
Ontario supports laid off auto workers in Windsor and Chatham

NEWS

Rhine in south Germany reopened for cargo shipping

Active pattern for center of U.S.; increasing rainfall threat for Pacific Northwest
Greece finds 109 kg of cocaine in ship container with frozen squid
South Korean tycoon ordered to pay $1bn for divorce
Malta's former prime minister Joseph Muscat charged with corruption
Tracking areas of severe thunderstorms, excessive rainfall, and excessive heat in U.S.
 

BUSINESS

UN's Guterres: Advertising from fossil fuel companies must be banned

U.S. drillers cut oil and gas rigs
EIB signs €75.5 million deal to revamp Montenegro’s railways
U.S. drillers cut oil and gas rigs to 600
U.S oil and gas rigs count increased by 1 to 604
NYCEDC supporting major battery energy storage project in New York City
 

Trending Now

HDF Energy inaugurates world's first high-power hydrogen fuel cell factory in Blanquefort, France

Bulgaria set to start construction of Vertical Gas Corridor

UN's Guterres: Advertising from fossil fuel companies must be banned

Commission approves Italian State aid scheme to support electricity production from renewable energy sources


POLITICS

Poland building fortifications on its eastern border

Bulgaria set to start construction of Vertical Gas Corridor
Argentine president Milei says to lay off another 50,000 civil servants to reduce spending
Commission approves Italian State aid scheme to support electricity production from renewable energy sources
Italy, Germany and Austria sign cooperation deal on SoutH2 pipeline
Commission approves €2 billion Italian State aid measure to support STMicroelectronics
 

Today We Recommend

UN's Guterres: Advertising from fossil fuel companies must be banned


Highlights 

Deutsche Aircraft starts final assembly line construction, will create up to 350 jobs

North Carolina: Amrep Manufacturing Company adding 170 new jobs in Rowan County

Commission approves €2 billion Italian State aid measure to support STMicroelectronics


COMPANIES

MSC launches Britannia: New standalone loop connecting Asia to North Europe

HDF Energy inaugurates world's first high-power hydrogen fuel cell factory in Blanquefort, France
Epiphone legendary bluegrass instruments are back, Gibson annouces Jason Isbell Red Eye 1959 Les Paul Standard
North Carolina: Amrep Manufacturing Company adding 170 new jobs in Rowan County
Saudi Arabia to sell 0.64 pct Aramco stake worth over $10b
Germany approves unrestricted sales of 100% renewable diesel
 

CAREERS

Ocean Outdoor announces group CEO succession plan

Rajesh Chandiramani takes over as Comviva CEO
Azentio appoints Rahul Arora as new chief sales officer
Orion Innovation names Kelly Ercolino SVP of marketing
CLG appoints Yves Ollivier as managing director in Pointe Noire Congo
BioMar announces changes in management in Ecuador
 

ECONOMY

Eurozone reports modest Q1 GDP growth, stable annual inflation

Italy sees faster economic growth in Q1
Slovenia's economy expected to grow 0.9 pct in Q1
Italy faces deficit infringement procedure
Real GDP increased in all 50 U.S. states
Inflation continues to decline in Germany
 

EARNINGS

Lululemon athletica Q1 revenue increased 10% to $2.2 billion

PVH Q1 GAAP EBIT $205 million
Dollar General Q1 operating profit decreased 26.3%
Guess Q1 revenue increased by 7%
Macy's Q1 diluted earnings per share $0.22
Afreximbank delivers strong Q1 results
 

OP-ED

Micromanaging is the worst enemy of efficiency and teamwork

Niger set to monetize massive gas reserves through Saharan natural gas pipeline
Putting the brakes on EV folly that choked the market
Oil discovery in Kavango Basin may mean huge benefits for Namibians
Cape Town and Dubai battle over Africa's energy future
Is America going to lose its superpower status?
 

AGRIFISH

Hong Kong suspends import of poultry meat and products from Sioux County, Iowa

Hong Kong suspends import of poultry meat and products from areas in India, U.S. and Korea
UK declares freedom from bird flu
Belgium second EU country to authorise bluetongue vaccine
UK government unveils major package of farming and food sector support
Governor Desantis signs legislation to keep lab-grown meat out of Florida
 

LEADERSHIP

Study finds workers misjudge wage markets

Some organizations may need to expand their hierarchical structures earlier than others
Study finds there's right way and wrong way to deliver negative feedback in workplace
Allyship is critical and its needs appreciation
Generating 'buzz' about new products can influence their success
Hiring 'problem directors' can knock up to 64% off firm's value
 

CRIME

EU Commission fines Mondelēz €337.5 million for cross-border trade restrictions

HSBC pays penalties for alleged breaches of Consumer Data Right rules
Sanofi to settle thousands of Zantac cancer lawsuits
Former asset manager and board member of Geneva private bank referred to Swiss Federal Criminal Court
South Africa: SAP ordered to pay SIU $26m over 'invalid' Eskom contracts
Former Steinhoff director appears in court for $1.1b fraud, racketeering
 

Magazine

TRAVEL

Morocco’s first Radisson branded hotel opens in Casablanca

Buna channels, an unreal and beautiful part of Bosnia and Herzegovina
JW Marriott unveils Mindful Haven with opening of JW Marriott Hotel Nairobi
Sotheby's Sports Week returns with fantastic artifacts
Red Roof properties open in Michigan
Treyam, your premier lagoon destination in Saudi Arabia
 

SEA, LAND, AIR

2025 Chevrolet Equinox stands apart with fresh looks and capability

Hill Helicopters HX50, luxury in the sky
Opel Movano becomes fully equipped camper van
Porsche Panamera, new hybrid variants
Dodge Charger, 670 horsepower of electric
Pagani Huayra R Evo, 900 hp from 770 Nm
 

DESIGN

Cold night, hot fire pit, cool entertainment

Embellish your home with PVC panels
You'll have to hurry if you want one of 20 new Louis Vuitton watches
Luxury duvet looks good, fells good and keeps you healthy
Vacheron Constantin, watches for life and more
Schüller kitchens, where functionality marries design
 

GADGETS

reMarkable 2, monochrome tablet for your thoughts and your eyes

OnePlus Ace 3V, first with Snapdragon 7 Plus Gen 3
ASUS Zenfone 11 Ultra, flagship with a reason
Samsung Galaxy S24 is photography powerhouse
Casette tapes are making a big comeback, and so are portable players
Neumann TLM 103, standard microphone for both voice and music
 

HEALTH

UK: People with HIV can now donate eggs or sperm to start family

EU health watchdog urges vaccinations to stem surge in Whooping Cough cases
Brazil resumes insulin production after two decades
India launches first home-grown gene therapy for cancer
UK scientists win funding for 'cancer detecting' Lollipops
State to cover rare disease treatment costs in Bulgaria
 

MEANTIME

Potentially habitable 'exo-Venus' with Earth-like temperature discovered

Rare species of wild bees discovered in Berlin
SLAC completes construction of largest digital camera ever built for astronomy
Solar eclipse next week in U.S., Mexico and Canada
Gravitational waves may have made human life possible
Astronomers unveil strong magnetic fields spiraling at the edge of Milky Way's central black hole