Business
Visy buys Australian operations of US glass giant in $947 million deal – Sydney Morning Herald
Packaging and recycling group Visy has struck a deal with the world’s biggest glass bottle maker, Owens-Illinois Glass, to buy its Australian and New Zealand operations.
On completion of the deal, Visy said it would employ 7200 people in well-paid manufacturing roles.
“And importantly, we will bring Visy’s sustainability culture to O-I, aiming to increase recycled content of glass bottles from one third to two thirds,” Mr Pratt said.
Manufacturing has never been more important to Australia’s future.
Visy executive chairman Anthony Pratt
OI’s Australian business, headquartered in Melbourne, generated sales of about $754 million in 2019 and EBITDA (earnings be…
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