On October 21, O-I Glass Finalizes Plans For Closure Of A Furnace In Its Americas Segment
Portfolio Pulse from Benzinga Newsdesk
O-I Glass plans to close a furnace in its Americas segment as part of its Fit to Win initiative, aiming to reduce redundant capacity. The closure, affecting 150 employees, is expected to occur on or after November 18, 2024, with a $39 million charge anticipated in Q3 2024.
October 22, 2024 | 8:38 pm
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O-I Glass is closing a furnace in its Americas segment as part of its Fit to Win initiative, leading to a $39 million charge in Q3 2024. This move is aimed at reducing redundant capacity and optimizing its network.
The closure of the furnace is part of a strategic initiative to optimize O-I Glass's network, but it involves a significant charge of $39 million, which could negatively impact short-term financials. The impact on 150 employees also suggests potential operational disruptions.
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