O-I recently reported its financial results for the full year, and Q4 results ending 31 December 2018. CEO Andres Lopez commented that in line with its guidance, the company delivered solid financial performance in 2018, demonstrating growing resilience in overcoming currency and inflationary headwinds, it continues to progress in its ability to deliver, while also investing to support future shareholder value creation. Throughout 2018, Europe's focus on the top line sales mix management and premium products and the benefits of Total System Cost efforts drove higher profits and strong margin expansion. Over the course of the year, America's team responded to several unplanned headwinds and the stronger US dollar by growing sales volume outside the US and reducing structural costs across the region. Asia Pacific completed its 2018 asset advancement program and exited the year with a strong margin, as expected. The company's joint venture with Constellation Brands continues to perform well, again delivering higher sales compared with the prior year, driven in part by the fourth furnace that ramped up early 2018. A fifth furnace is expected to be completed by the end of 2019.
