Strong demand for glass containers in Mexico, the Andean countries and southwest Europe boosted O-I’s results.
The world’s largest container glass manufacturer reported a1% increase in shipments in the second quarter of this year, which comes on top of an 18% improvement in the prior year quarter.
Volume was up nearly 1% in both Americas and Europe, said the company’s CEO Andres Lopez.
Its balance sheet is now in the best position since prior to its acquisition of O-I Mexico in 2015, he added.
Year-to-date shipments were up 3% about 5% in Europe and 2% in the Americas.
Mr Lopez said market trends clearly favour glass resulting in the strongest market fundamentals in over 20 years.
Mr Lopez said: “Across Latin America, a structural shift in demand is driving sustainable growth.
"Customers and consumers increasingly favour premium products and our customers are localising international brands that had been successfully imported to these markets for several years.
"Premiumisation favours one-way glass containers, while consumer affordability and sustainability considerations are prompting greater use of returnable bottles.
"For example glass now holds 50% market share in the Brazil beer category as both one-way and returnable glass gain share.”
