US-based glass packaging manufacturer, Owens-Illinois (O-I) is planning to invest €140m in 2013 with an aim to fortify its capabilities in European factories.
O-I chairman and CEO Al Stroucken said since the acquisition of €1.1bn of BSN Glasspack in 2004, the company has substantially invested in modernizing and maximizing the capability of its European assets.
"Over the next several years, we will accelerate our efforts to enhance O-I's competitiveness in Europe by improving quality, sustainability and capabilities to better support the growing needs of our European customers for more sustainable and healthy glass packaging," Stroucken said.
According to the company, its investments in 2013 will comprise furnace and glass making machine upgrades at plants in France, Germany, Italy, the Netherlands and the Czech Republic across all of the company's market segments.
O-I's European operates with 8,000 employees in 11 countries, with more than €2.3bn sales in 2011, about 40% of its global sales.