Owens-Illinois acquired Nueva Fabrica Nacional de Vidrio from Grupo Modelo for $188m.

Owens-Illinois acquired Nueva Fabrica Nacional de Vidrio from Grupo Modelo, a wholly owned affiliate of Anheuser-Busch InBev, for $188m. The Nueva Fanal facility is located near Mexico City, Mexico. Currently, this plant has four furnaces to produce and supply approximately 300,000 tons of glass containers annually for Grupo Modelo brands, which include Corona, Modelo Especial and Pacifico. "The acquisition of Nueva Fanal reflects O-I's strategy to invest in the growth of sustainable glass packaging by partnering with our customers to help enable their growth in premium brands, such as Corona, one of the most popular and fastest growing beer brands globally," said Andres Lopez, Chief Executive Officer, O-I.