O-I Glass is to close a furnace in its Americas segment by November 18.

About 150 people will be impacted by the closure of the unnamed furnace.

Its Perrysburg Innovation Center is also set to be idled, with a number of people told they were losing their jobs this week.

It warned of further furnace closures and other restructuring actions before the end of the year.

The world's largest container glass manufacturer said the closure was part of the company’s Fit to Win initiative to reduce redundant capacity and to optimise its network.

Current customers of the plant impacted by the furnace closure will be served by other domestic plants in the company’s network.

The closure is expected to cost the company approximately $39 million.

Major components of the charge include approximately $24 million for plant-related assets, such as the closed furnace and related machinery, and $15 million for one-time employee separation benefits and other costs related to the closing (of which approximately $10 million relate to future cash expenditures).