O-I has warned of restructuring within its Asia-Pacific business after it began a review of the operation.
The world’s largest container glassmaker said it had initiated a review of the Asia-Pacific business which it said would maximise shareholder value.
In a report published on October 30 it said: “This review is aimed at exploring options to maximize share owner value, focused on aligning the company’s business with demand trends and improving the company’s operating efficiency, cost structure and working capital management.”
It warned the review may result in ‘divestitures, corporate transactions or similar actions’ and could cause the glass manufacturer ‘to incur restructuring, impairment, disposal or other related charges in future periods.’
