O-I Glass, Inc. /DE/ (OI): restructuring charge — O-I Glass to close furnace, record ~$39M charge in Q3 2024 as part of Fit to Win

O-I Glass, Inc. /DE/

Charge of ~$39M: $24M asset impairment and $15M employee separation costs (~$10M cash).
Closure of Americas segment furnace affecting ~150 employees; expected on or after Nov 18, 2024.
Additional furnace closures and restructuring actions expected later in 2024 under Fit to Win.
Customers of closed plant to be served by other domestic O-I Glass plants.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

O-I Glass, Inc. /DE/ announced a restructuring with charges of approximately $39 million affecting Americas segment (approximately 150 people).

Type: restructuring
Charge: approximately $39 million
Affected area: Americas segment
Headcount: approximately 150 people

Exact text from the filing

domestic plants in the Company’s network. Subject to finalization of certain estimates, the Company expects to record a charge associated with this closure of approximately $39 million in the third quarter of 2024. Major components of the charge include approximately $24 million for impairment of plant-related assets, such as the closed furnace and

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O-I Glass, Inc. /DE/ filing history →

Source: SEC EDGAR

accession 0001104659-24-110581

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