O-I plots $1 billion sale of Asia-Pacific glass business

O-I is considering the AU$1 billion (US$675.1 million) sale of its Asia-Pacific container glassmaking business. It has appointed investment bank Goldman Sachs to negotiate the sale of its Asia-Pacific segment, which generated about 10% of its global sales last year.

O-I is the world largest container glassmaker. Its Asis-Pacific manufacturing operations consist of four glass manufacturing plants in Australia, two in China and one each in Indonesia and New Zealand. It also has joint venture operations in Vietnam, Malaysia and China.

In its 2018 full-year earnings it said glass container shipments in Asia-Pacific had fallen by 3% compared to the year before. O-I's Kate Hobson said: "As previously disclosed, as part of our stated goal of reducing debt and maximizing shareholder value, O-I is conducting a strategic review of its business portfolio. We cannot provide any more information at this time."

**Initial reporting came via https://www.theaustralian.com.au

11.10.2019, Glass International

Les informations publiées sur notre portail sont soumises au droit d´auteur et appartiennent à la société en question resp. à la source des nouvelles. Tous les droits sont réservés expressément. N´importe quel utilisateur qui accède à un tel matériel peut faire ainsi seulement pour sa propre utilisation personnelle, et l´usage d´un tel matériel est au risque unique de l´utilisateur. La redistribution ou toute autre exploitation commerciale d´un tel matériel de nouvelles est expressément interdite. Là où un tel matériel de nouvelles est fourni par un tiers, chaque utilisateur accepte d´observer et être lié par les limites spécifiques de l´utilisation s´appliquant à un tel matériel de nouvelles. Glass Global ne représente ou n´approuve pas l´exactitude ou la fiabilité d´aucune des informations citées dans les nouvelles ou pages externes auxquelles on se réfère ici.

Should the content or the design of these sites violate third parties rights or legal prescriptions, we kindly ask you to send us a respective message without invoice or cost. We guarantee that passages where the claim is considered as justified will be removed immediately, without any necessity to involve any lawyer into this issue. We will reject any claim caused by submission of a honorary note in this regard without any prior contact and confirmation of the issueby us and we reserve the right ssue counter claim ourselves because of violation of aforesaid conditions.