O-I Glass has completed its corporate modernisation and the adoption of a new holding company structure.

It means all stockholders of Owens-Illinois (O-I) have became stockholders of O-I Glass.

O-I Glass has replaced O-I as the public company trading on the New York Stock Exchange under the ticker symbol, OI, and has the same directors, officers and business operations as O-I.

It believes the modernisation will improve its operating efficiency and cost structure, while ensuring it remains well-positioned to address its legacy liabilities.