O-I has acquired a 49.7 percent stake in glass packaging producer Empresas Comegua for $119 million. Empresas Comegua manufactures a variety of glass packaging for the food, beverage and pharmaceutical industries in the Central American and Caribbean markets operating two factories in Costa Rica and Guatemala.
“The Comegua transaction builds off the acquisition of O-I Mexico in 2015 and complements our existing footprint across the Americas which now extends from Canada to Argentina. With this move, O-I is expanding into new and growing glass markets in Central America and extending its market presence in the Caribbean,” said Andres Lopez, O-I chief officer.
