Sales and production volumes surpassed pre-Covid levels, O-I reported in its latest financial note.
In its fourth quarter earnings report the world’s largest container glass manufacturer said the increased volumes underscored consumer preference for premium and sustainable glass packaging.
Andres Lopez, CEO of O-I, reported a 1.1% increase in shipments compared to 2019 levels.
Year on year there was a 5.3% increase in shipments and a 7.3% increase in production levels.
“The benefits from O-I’s margin expansion initiatives exceeded our original target. As we redefine the glass production process, the company achieved critical milestones that will enable broader MAGMA deployment in the near future.
“This included validation of our Generation 1 MAGMA line in Holzminden, Germany, and advancing the Generation 2 pilot.”
Shipments in tons in Europe increased 13.2% primarily due to strong growth in the wine category across southern Europe.
In the Americas, shipments decreased 1.7% which reflected increased engineering project activity that restricted production amid record low inventories.