The world’s largest container glassmaker, O-I, has confirmed most of its production plants are operating despite the Covid-19 pandemic.
[rimg01]Glass packaging has been considered an essential element of the food and beverage chain in most countries and as a result most O-I plants are operating with minimal interruption.
Approximately 85-90% of its production capacity is operating without interruption.
It has temporarily curtailed some capacity in Europe and Latin America to adapt to revised customer demand and comply with governmental public health decrees in certain countries.
It reported solid operating performance in Quarter One 2020. Total sales volume for the first quarter of 2020 (in tons) was down 0.8% from the same period last year.
Demand did decline from prior year levels by approximately 7% during the last two weeks of March, notably in Southern Europe and Latin America reflecting the impacts of Covid-19.
Andres Lopez, O-I CEO, said: “While our business will be temporarily impacted by COVID-19, I am encouraged by our progress on various initiatives to improve operating performance and I am confident we will emerge stronger as current market headwinds abate.
“I am proud of how O-I employees have responded given the challenges imposed by COVID-19 and the speed and efficiency at which they are coordinating effective actions around the world.”