O-I Glass to close two European furnaces; expects ~$72M Q4 charge for impairment and severance

O-I Glass, Inc. /DE/

Closure of two furnaces in European segment under Fit to Win initiative; ~100 employees impacted.
Expected Q4 2024 charges of ~$72M: $40M asset impairment, $32M severance and other costs (~$24M cash).
Additional furnace closures and restructuring actions anticipated in Q4 2024 and 2025.
Separate European SG&A severance program approved; ~$18M Q4 2024 charge, cash paid in first half 2025.
Furnace closures on or after Jan 15, 2025; affected customers to be served by other O-I plants.

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