Glass containers maker Owens-Illinois, Inc. (QI) said Monday that it has decided to close its glass container plant in Castel Maggiore, Italy as a result of the ongoing review of its global manufacturing footprint.
The company said it plans to close the Castel Maggiore plant after concluding a process of consultation with the local union representatives, which is expected before the year-end.
Production will be transferred to other Owens-Illinois plant, including those in Italy.
"The decision to close this facility was driven by our ongoing global asset utilization process which identified the opportunity to shift our production to other European facilities resulting in lower energy consumption and production costs while still meeting current and anticipated market needs," said Jean-Marc Arrambourg, President, Owens-Illinois Europe.
Perrysburg, Ohio-based Owens-Illinois said the plant closure would affect about 100 people, who will be offered positions in other Italian plants.
Owens-Illinois shares closed Friday's regular trading session at $44.60, down 16 cents.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.