O-I Glass Completes Corporate Modernization, Adopts New Holding Company Structure

O-I Glass, Inc. announced the completion of its previously announced corporate modernization and adoption of a new holding company structure.

Pursuant to the corporate modernization, all stockholders of Owens-Illinois, Inc. (O-I) became stockholders of O-I Glass, as each issued and outstanding share of common stock of O-I converted into an equivalent corresponding share of common stock of O-I Glass. O-I Glass has replaced O-I as the public company trading on the New York Stock Exchange (NYSE) under the ticker symbol OI, and has the same directors, officers and business operations as O-I.   

The company believes that the corporate modernization will improve the company’s operating efficiency and cost structure.