Owens-Illinois Inc, which makes bottles for Corona and Pepsi, is to purchase Mexico's Vitro SAB's glass container business for about $2.15 billion to strengthen its operations in a country that houses numerous distilleries and bottlers. The world's largest glass container maker's shares jumped as much as 10.7 percent to $26.11 in early trading on Wednesday.Mexico houses operations for Diageo, Heineken , Corona maker Constellation Brands Inc as well as bottling operations for Coca-Cola and PepsiCo - all of whom are common customers for O-I and Vitro.O-I will get Vitro's five plants in Mexico and one in Bolivia, potentially giving it additional customers such as tequila makers Jose Cuervo and Sauza and salsa maker Herdez .
Owens-Illinois Group, Inc., is a glass manufacturer company. Shares of OI traded higher by 10.1408% or $2.4125/share to $26.20. In the past year, the shares have traded as low as $22.65 and as high as $35.18. On average, 1742830 shares of OI exchange hands on a given day and today's volume is recorded at 5107960.
Constellation Brands, Inc. is a leading international beverage alcohol company, with operations in United States, Canada and New Zealand. Shares of STZ traded higher by 0.522% or $0.604/share to $116.28. In the past year, the shares have traded as low as $78.49 and as high as $121.92. On average, 982100 shares of STZ exchange hands on a given day and today's volume is recorded at 265347.
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