O-I Glass, Inc. (“O-I Glass” or “O-I”) was selected by the
U.S. Department of Energy (DOE) Office of Clean Energy
Demonstrations to begin award negotiations for up to $125 million
in Bipartisan Infrastructure Law and Inflation Reduction Act
funding as part of the Industrial Demonstrations Program (IDP). The
O-I decarbonization project was selected as one of 33 projects
across more than 20 states to receive up to a total of $6 billion
to demonstrate commercial-scale decarbonization solutions needed to
move energy-intensive industries toward net-zero while
strengthening local economies, creating, and maintaining
high-quality jobs, and slashing harmful emissions that jeopardize
public health.
The Glass Furnace
Decarbonization Technology project, led by O-I Glass, plans to
rebuild four furnaces across three of its facilities in California,
Ohio, and Virginia to reduce scope 1 carbon dioxide emissions by an
estimated 48,000 metric tons per year, an average of 40% reduction
of scope one emissions across the four furnaces and their
corresponding production lines. The proposed rebuilds plan to
combine five cutting-edge furnace technologies on each furnace,
marking the first time that all five technologies have been
implemented simultaneously. These technologies reduce waste heat
and increase electrification, making the furnaces more energy
efficient and reducing both direct and indirect emissions. The
project provides O-I the opportunity to demonstrate the
functionality of combining multiple technologies across different
glass colors and container types.
O-I anticipates each
project would support up to 300 construction jobs (up to 1,200
across four furnaces) and plans to establish Project Labor
Agreements and Community Workforce Agreements as needed throughout
the project to ensure project success and workers’ rights.
Additionally, O-I is working to enhance the company’s diversity,
equity, and inclusion efforts through the intentional engagement of
underrepresented groups such as women, LGBTQ+, and veterans. O-I
Glass and its charitable contributions would continue to support
the communities through local investments in organizations,
including the United Way, that address the communities’ social
needs, arts and culture, education and career development, and
environmental impact related to glass recycling and
beyond.
Learn more about IDP
and projects selected for award negotiations here. Learn more about
innovation-driven sustainability for glass packaging by O-I by
visiting: O-I.com/Sustainability/
###
ABOUT O-I
GLASS
At O-I Glass, Inc.
(NYSE: OI), we love glass, and we are proud to be one of the
leading producers of glass bottles and jars around the globe. Glass
is not only beautiful, it is also pure, healthy, and completely
recyclable, making it the most sustainable rigid packaging
material. Headquartered in Perrysburg, Ohio (USA), O-I is the
preferred partner for many of the world’s leading food and beverage
brands. We innovate in line with customers’ needs to create iconic
packaging that builds brands around the world. Led by our diverse
team of approximately 23,000 people across 68 plants in 19
countries, O-I achieved revenues of $7.1 billion in 2023. Learn
more about us: o-i.com / Facebook /
Twitter / Instagram / LinkedIn
Forward-Looking
Statements
This press release
contains “forward-looking” statements related to O-I Glass, Inc.
(“O-I Glass” or the “company”) within the meaning of Section 21E of
the Securities Exchange Act of 1934, as amended (the “Exchange
Act”) and Section 27A of the Securities Act of 1933, as amended.
Forward-looking statements reflect the company’s current
expectations and projections about future events at the time, and
thus involve uncertainty and risk. The words “believe,” “expect,”
“anticipate,” “will,” “could,” “would,” “should,” “may,” “plan,”
“estimate,” “intend,” “predict,” “potential,” “continue,” and the
negatives of these words and other similar expressions generally
identify forward-looking statements.
It is possible that
the Company’s future financial performance may differ from
expectations due to a variety of factors including, but not limited
to the following: (1) the general political, economic and
competitive conditions in markets and countries where the Company
has operations, including uncertainties related to economic and
social conditions, trade disputes, disruptions in the supply chain,
competitive pricing pressures, inflation or deflation, changes in
tax rates and laws, war, civil disturbance or acts of terrorism,
natural disasters, public health issues and weather, (2) cost and
availability of raw materials, labor, energy and transportation
(including impacts related to the current Ukraine-Russia and
Israel-Hamas conflicts and disruptions in supply of raw materials
caused by transportation delays), (3) competitive pressures,
consumer preferences for alternative forms of packaging or
consolidation among competitors and customers, (4) changes in
consumer preferences or customer inventory management practices,
(5) the continuing consolidation of the Company’s customer base,
(6) the Company’s ability to improve its glass melting technology,
known as the MAGMA program, and implement it within the timeframe
expected, (7) unanticipated supply chain and operational
disruptions, including higher capital spending, (8) seasonability
of customer demand, (9) the failure of the Company’s joint venture
partners to meet their obligations or commit additional capital to
the joint venture, (10) labor shortages, labor cost increases or
strikes, (11) the Company’s ability to acquire or divest
businesses, acquire and expand plants, integrate operations of
acquired businesses and achieve expected benefits from
acquisitions, divestitures or expansions, (12) the Company’s
ability to generate sufficient future cash flows to ensure the
Company’s goodwill is not impaired, (13) any increases in the
underfunded status of the Company’s pension plans, (14) any failure
or disruption of the Company’s information technology, or those of
third parties on which the Company relies, or any cybersecurity or
data privacy incidents affecting the Company or its third-party
service providers, (15) risks related to the Company’s indebtedness
or changes in capital availability or cost, including interest rate
fluctuations and the ability of the Company to generate cash to
service indebtedness and refinance debt on favorable terms, (16)
risks associated with operating in foreign countries, (17) foreign
currency fluctuations relative to the U.S. dollar, (18) changes in
tax laws or U.S. trade policies, (19) the Company’s ability to
comply with various environmental legal requirements, (20) risks
related to recycling and recycled content laws and regulations,
(21) risks related to climate-change and air emissions, including
related laws or regulations and increased ESG scrutiny and changing
expectations from stakeholders and the other risk factors discussed
in the Company's filings with the Securities and Exchange
Commission.
It is not possible to
foresee or identify all such factors. Any forward-looking
statements in this document are based on certain assumptions and
analyses made by the Company in light of its experience and
perception of historical trends, current conditions, expected
future developments, and other factors it believes are appropriate
in the circumstances. Forward-looking statements are not a
guarantee of future performance and actual results or developments
may differ materially from expectations. While the Company
continually reviews trends and uncertainties affecting the
Company’s results of operations and financial condition, the
Company does not assume any obligation to update or supplement any
particular forward-looking statements contained in this
document.
James Woods
Corporate Affairs
james.woods@o-i.com
OI Glass (NYSE:OI)
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