Argentina produces more than one million tonnes of glass containers every year making it the third largest market in the region, after Mexico and Brazil.
Cristalerías primarily serves the wine market that is the country’s fastest growing sector for container glass.
O-I chairman and chief executive Al Stroucken said Ohio-based firm planned to invest in the two-furnace plant in Rosario, some 300km north of Buenos Aires, to “expand capacity, diversify production and strengthen our ability to serve this growing market”.
“The acquisition complements our existing operations in Latin America and enables us to serve a portion of the market we are not currently serving,” he said.
Cristalerías was founded more than 60 years ago and employs around 230 people.
O-I already has container glass manufacturing operations in Brazil, Colombia, Ecuador, Peru, Venezuela and the Caribbean.
Click here for today’s headlines from across the packaging industry
Loading ...
Comments are closed.