O-I’s latest acquisition drew the most reader interest last week (O-I to Acquire Mexico-Based Nueva Fàbrica Nacional de Vidrio): “Owens-Illinois, Inc. (O-I) recently announced that it has entered into a definitive agreement to acquire Nueva Fàbrica Nacional de Vidrio, S. de R.L. de C.V. (Nueva Fanal) from Grupo Modelo, a wholly owned affiliate of Anheuser-Busch InBev SA/NV. The Nueva Fanal facility is located near Mexico City, Mexico. The plant currently has four furnaces to produce and supply approximately 300,000 tons of glass containers annually for Grupo Modelo brands, which include Corona, Modelo Especial, and Pacifico.
“The acquisition is a cash transaction valued at approximately $188 million, subject to customary closing conditions, including competition authority approval, and is expected to close during 2019. O-I expects the business to contribute approximately $140 million of revenue on an annual basis. Incremental synergies are anticipated. O-I will also reportedly enter into a long-term glass supply agreement to continue to supply Grupo Modelo.”
Top 5 Hottest News Stories for April 7-13
- O-I to Acquire Mexico-Based Nueva Fàbrica Nacional de Vidrio
#3 last week
- Viva Air Selects CFM to Power New Fleet in $3.2 Billion Order
- Saint-Gobain Earns Strong Score on Human Rights Campaign’s 2019 Corporate Equality Index
- Strong Growth Projected for Hexagonal Boron Nitride Market
- Demand for Ceramic Cores Driven by North America #1 last week
This weekly roundup highlights the ceramic, glass, refractories, brick and related news stories that garnered the most attention during the previous week on our website, as well as our eNewsletters and social media platforms.