FRANCE – O-I Glass, a producer of glass bottles and jars, has introduced its latest lightweight glass wine bottle with a reduced carbon footprint into the French market.
Dubbed Estampe, the bottle weighs approximately 390g, significantly below the average weight of typical wine bottles in France.
O-I Glass asserts that the bottle emits around 25% fewer carbon emissions compared to conventional 500g wine bottles.
Estampe was crafted using a high recycled content, averaging up to 80% or more, a notable increase from the current European average of 50% recycled content, as stated by the glass bottle manufacturer.
The credibility and overall sustainability of the 75cl bottle were endorsed by the Carbon Trust, with O-I collaborating closely to meet the criteria for low-carbon packaging.
Arnaud Aujouannet, Chief Sales and Marketing Officer at O-I Glass, emphasized the company’s commitment to providing sustainable packaging solutions, underscoring the innovation behind the lightweight, low-carbon bottle.
O-I Glass aims to reduce greenhouse gas emissions by 25% by 2030, in line with its approved Science Based Targets Initiative (SBTi) target.
Estampe is designed to be aesthetically pleasing, functional, sustainable, and well-balanced, complementing O-I’s range of lighter-weight glass bottles worldwide.
The company responds to consumer preferences for visually appealing yet environmentally conscious packaging, ensuring that the wine’s flavor and enjoyment are preserved.
O-I Glass recently reported a significant decline in EBIT in FY23, with earnings before income taxes (EBIT) plummeting to US$67 million from US$805 million in FY22.
This decline was primarily attributed to non-recurring items, including a US$445 million charge for the impairment of goodwill in O-I’s North America reporting unit in 2023 and a US$334 million one-time gain from sales-leaseback transactions in 2022, which were not repeated.
Loss attributable to O-I Glass stood at US$0.67 per share (diluted) in FY23, in stark contrast to earnings of US$3.67 per share (diluted) in 2022.
Despite the downturn in EBIT and earnings per share, net sales increased to US$7.1 billion in 2023, up approximately 4% from US$6.9 billion in the previous year.
In the fourth quarter (Q4) of FY23, O-I Glass reported a loss before income taxes of US$439 million, compared to earnings before income tax of US$29 million in the corresponding quarter of FY22.
The fourth quarter also saw a loss attributable to the company of US$3.05 per share, against earnings of US$0.08 per share (diluted) in Q4 FY22.
Net sales in Q4 amounted to US$1.6 billion, down from US$1.7 billion in the same period of the preceding year. As of 31 December 2023, O-I’s total debt stood at US$4.9 billion, an increase from US$4.7 billion at the end of the previous year.
For all the latest packaging and printing industry news from Africa and the World, subscribe to our NEWSLETTER, follow us on Twitter and LinkedIn, like us on Facebook, and subscribe to our YouTube channel.
