O-I Glass, Inc. (OI) in Perrysburg, Ohio, is a leading producer of glass bottles and jars globally. On Jan. 12, 2022, it announced that its wholly-owned subsidiary, Paddock Enterprises, LLC, has filed a reorganization and related disclosure statement with the United States Bankruptcy Court for the District of Delaware. According to Its CEO, Andres Lopez, “This Plan represents a favorable outcome for all parties, and we look forward to the Plan’s implementation as Paddock moves toward emergence.”
OI’s shares have gained 24.8% in price over the past month to close yesterday’s trading session at $13.72. Its third-quarter results exceeded expectations on solid operating performance, and it also reported its lowest debt since 2015. In addition, it raised its full-year 2021 outlook.
