O-I Glass Inc has provided a business update in lieu of management’s previously scheduled presentation at the JP Morgan investor conference, which was cancelled by the organisers due to Covid-19 (Corona virus). “O-I’s operating performance through February has been solid and pacing in-line with the company’s most recent earnings guidance for the first quarter of 2020” said Andres Lopez, CEO. “Overall, sales volume has been flat with the prior year. Higher shipments in Asia-Pacific (including China) and the benefit from the Nueva Fanal acquisition offset continued lower beer demand in North America, which has been in-line with our expectations.”

According to Mr Lopez, despite the challenges associated with the Corona virus and resulting economic disruption, O-I’s business continues to operate without interruption and recent demand patterns remain stable through early March. “O-I continues to closely follow guidance from the World Health Organization, US Centers for Disease Control and Prevention, as well as federal and state governments in appropriate jurisdictions related to Covid-19” he explained. “The company has been working with customers and suppliers alike to develop preparedness plans in response to this rapidly evolving situation. We are better integrated as an enterprise and prepared than ever to move with speed and agility to execute any contingency plans if required.”

www.o-i.com