O-I Glass plans to change the paradigm of glass production

This week the company is a manufacturer of glass and glass containers O-I Glass, Inc. (OI, NYSE) published a quarterly report. The company's revenue decreased, but its plans inspired investors, as O-I Glass plans to step forward with the help of new production technology.

In the past fourth quarter, ending December 31, 2019, O-I Glass revenue decreased by 0.4% to $ 1.63 billion. However, over the entire year, an increase in the average selling price of products provided O-I Glass with a large revenue, despite a decrease in supplies. In 2019, sales totaled $ 6.7 billion, compared with $ 6.9 billion a year earlier. Adjusted earnings per share were $ 0.5, less than last year's $ 0.61 but higher than Wall Street's expectations.

The deterioration was due to a decrease in organic sales, but in 2020 the company plans to carry out structural transformations and optimize the business. At the heart of this upgrade is MAGMA's proprietary technology. This is a new more flexible and mobile manufacturing process that focuses on modern market demands. In particular, MAGMA allows you to quickly expand and collapse the production of glass and containers in accordance with market requirements. Thus, O-I Glass will offer customers new opportunities for marketing, positioning products and creating unique containers. The introduction of MAGMA technology on commercial efficiency is expected by 2023. If successful, O-I Glass business will receive a strong positive impetus.

At the auction on February 5, the OI stock was worth $ 14.86.

Source: http://elitetrader.ru/