Owens-Illinois, has agreed to acquire Vitro for $2.2bn.

Owens-Illinois, glass container manufacturer has agreed to acquire Vitro food and beverage glass container business for $2.2bn. The transaction provides O-I with a competitive position in the attractive and growing glass segment of the packaging market in Mexico, further enhancing O-I's position as the world's foremost glass container producer. "We have long admired Vitro's business, and this transaction marks an important strategic step for O-I in that it allows us to establish a strong position in the attractive glass container segment in Mexico. Vitro's leading position, long-term customer relationships and proven record of innovation and new product development will enable us to capitalize on commercial opportunities in Mexico." Al Stroucken, O-I chairman and CEO.