Francisco Ruiz's questions to O-I Glass Inc (OI) leadership • Q2 2025
Question
Francisco Ruiz of BNP Paribas requested an update on the restructuring negotiations with French authorities and asked what actions remain to achieve the Phase A Fit to Win savings. He also sought a reconciliation between the reported Fit to Win benefits and the total change in operating costs for the quarter.
Answer
CEO Gordon Hardie confirmed that consultations with European and local works councils in France are progressing according to plan. CFO John Haudrich added that about half of the announced 10% global capacity reduction is complete, with the remainder tied to the actions in France and the Americas. To reconcile costs, Haudrich pointed to the earnings presentation, which shows the $84 million Fit to Win benefit was partially offset by a $27 million headwind from temporary production curtailments.