O-I's capacity reduction programme will conclude early next year.

In its latest financial note, it said that of the planned 13% reduction in capacity, it had so far completed 8% of it.

The closures are part of its Fit to Win programme, which has caused controversy in the industry.

In the note it said: "We have communicated the closure of 13% of capacity to align supply with demand. 8% is now complete and all remaining actions should be completed by early next year."

The remaining 5% of capacity closures will be skewed towards Europe and includes the already confirmed closures in France, it said.

The first phase of the Fit to Win programme has helped accelerate savings for the company but has also led to mass layoffs throughout its portfolio around the world.