O-I GLASS JOINS SUSTAINABLE WINE ROUNDTABLE TO ADVISE AND ADVANCE GLOBAL WINE SUSTAINABILITY
- O-I Glass will join wine industry leaders and stakeholders to create global standards for wine sustainability
- The Sustainable Wine Roundtable is an independent, non-profit roundtable for sharing best practices to advance sustainability
- O-I will be the first glassmaker, globally to join the Roundtable
Perrysburg, Ohio, March 26, 2024 (GLOBE NEWSWIRE) -- – O-I Glass, Inc. ("O-I Glass" or "O-I") announced today that the company will join a global collaborative platform to advance sustainability across the wine industry as member of the Sustainable Wine Roundtable (SWR).
The SWR consists of more than 120 members representing leading wine brands, small producers, distributors, retailers, and packaging producers to make the wine sector even more sustainable. SWR announced an accord to reduce the average bottle weight of standard wine bottles to below 420 grams by the end of 2026—representing about a 25 percent decrease in weight. By joining SWR, O-I glass will work to help members make progress toward their sustainability objectives for packaging in glass.
Wine packaging represents nearly 20 percent of O-I's global glass container portfolio. As part of the company's commitment to re-invent and reimagine glass packaging, O-I is working closely with its customers to advance novel technologies to manufacture a lower carbon future for glass packaging.
Most recently, O-I announced the B0 Estampe™ wine bottle that weighs only about 390g—well below the average weight of typical wine bottles. Available to O-I customers in France and validated by the Carbon Trust, the Estampe bottle has a reduced carbon footprint – about 25 percent less carbon emissions compared to conventional 500g wine bottles and uses up to 80% recycled content. The residual footprint is offset by the purchase of carbon credits.
O-I Glass is also the producer of the "Cento per Cento Sicilia" (100 Percent Sicily) bottles that are produced with about 90 percent locally recycled glass along with locally recovered secondary raw materials. This local, closed-loop program enables glass packaging to be cleaned, separated, and prepared to be made into glass packaging again—all reducing the need to import empty wine bottles for local wineries.
"O-I is working closely with wine producers around the world to demonstrate that all aspects of wine production can be achieved sustainably while maintaining the integrity of the packaging and adding value to the local wine region," said Randy Burns Chief Sustainability and Corporate Affairs Officer for O-I. "While we believe that glass packaging is already the most sustainable choice across the full lifecycle of wine packaging, O-I is actively fostering relationships through organizations like the Sustainable Wine Roundtable to engage our full ecosystem in advancing our sustainable journey."
O-I glass is pleased to join the SWR as it catalyzes and drives collective action and knowledge sharing to advance sustainability in its vision "of a world where high quality wine is produced, traded and consumed in ways that conserve and generate the natural environment, respect human rights and foster quality and inclusion; and generate prosperity, pride and passion for excellence."
To learn more about O-I's sustainable packaging for wine and its global vision for sustainability, visit the company's website at: http://o-i.com/sustainability
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ABOUT O-I GLASS
At O-I Glass, Inc. (NYSE:OI), we love glass, and we are proud to be one of the leading producers of glass bottles and jars around the globe. Glass is not only beautiful, but it is also pure, healthy, and completely recyclable, making it the most sustainable rigid packaging material. Headquartered in Perrysburg, Ohio (USA), O-I is the preferred partner for many of the world's leading food and beverage brands. We innovate in line with customers' needs to create iconic packaging that builds brands around the world. Led by our diverse team of approximately 23,000 people across 68 plants in 19 countries, O-I achieved revenues of $7.1 billion in 2023. Learn more about us:
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Forward-Looking Statements
This press release contains "forward-looking" statements related to O-I Glass, Inc. ("O-I Glass" or the "company") within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act") and Section 27A of the Securities Act of 1933, as amended. Forward-looking statements reflect the company's current expectations and projections about future events at the time, and thus involve uncertainty and risk. The words "believe," "expect," "anticipate," "will," "could," "would," "should," "may," "plan," "estimate," "intend," "predict," "potential," "continue," and the negatives of these words and other similar expressions generally identify forward-looking statements.
It is possible that the Company's future financial performance may differ from expectations due to a variety of factors including, but not limited to the following: (1) the general political, economic and competitive conditions in markets and countries where the Company has operations, including uncertainties related to economic and social conditions, trade disputes, disruptions in the supply chain, competitive pricing pressures, inflation or deflation, changes in tax rates and laws, war, civil disturbance or acts of terrorism, natural disasters, public health issues and weather, (2) cost and availability of raw materials, labor, energy and transportation (including impacts related to the current Ukraine-Russia and Israel-Hamas conflicts and disruptions in supply of raw materials caused by transportation delays), (3) competitive pressures, consumer preferences for alternative forms of packaging or consolidation among competitors and customers, (4) changes in consumer preferences or customer inventory management practices, (5) the continuing consolidation of the Company's customer base, (6) the Company's ability to improve its glass melting technology, known as the MAGMA program, and implement it within the timeframe expected, (7) unanticipated supply chain and operational disruptions, including higher capital spending, (8) seasonability of customer demand, (9) the failure of the Company's joint venture partners to meet their obligations or commit additional capital to the joint venture, (10) labor shortages, labor cost increases or strikes, (11) the Company's ability to acquire or divest businesses, acquire and expand plants, integrate operations of acquired businesses and achieve expected benefits from acquisitions, divestitures or expansions, (12) the Company's ability to generate sufficient future cash flows to ensure the Company's goodwill is not impaired, (13) any increases in the underfunded status of the Company's pension plans, (14) any failure or disruption of the Company's information technology, or those of third parties on which the Company relies, or any cybersecurity or data privacy incidents affecting the Company or its third-party service providers, (15) risks related to the Company's indebtedness or changes in capital availability or cost, including interest rate fluctuations and the ability of the Company to generate cash to service indebtedness and refinance debt on favorable terms, (16) risks associated with operating in foreign countries, (17) foreign currency fluctuations relative to the U.S. dollar, (18) changes in tax laws or U.S. trade policies, (19) the Company's ability to comply with various environmental legal requirements, (20) risks related to recycling and recycled content laws and regulations, (21) risks related to climate-change and air emissions, including related laws or regulations and increased ESG scrutiny and changing expectations from stakeholders and the other risk factors discussed in the Company's filings with the Securities and Exchange Commission.
It is not possible to foresee or identify all such factors. Any forward-looking statements in this document are based on certain assumptions and analyses made by the Company in light of its experience and perception of historical trends, current conditions, expected future developments, and other factors it believes are appropriate in the circumstances. Forward-looking statements are not a guarantee of future performance, and actual results or developments may differ materially from expectations. While the Company continually reviews trends and uncertainties affecting the Company's results of operations and financial condition, the Company does not assume any obligation to update or supplement any particular forward-looking statements contained in this document.
JIM WOODS Corporate Affairs [email protected]
