Mexico's largest glass manufacturer, Vitro, has approved O-I's $2.15BN bid to buy its glass containers division. The transaction includes five plants for food and beverage containers located in Mexico, its Bolivian plant and distribution of products in the USA. Not included in the deal are its assets associated with the cosmetics, fragrances and pharmaceuticals (CFT) segments; the equity interest in its companies Comegua in Central America companies, as well as the company's business involving chemicals and mould manufacturing and machinery. "We have long admired Vitro's business and this transaction marks an important strategic step for O-I in that it allows us to establish a strong position int he attractive glass container segment in Mexico," said Al Stroucken, Chairman and CEO of O-I.
