Owens-Illinois, Inc. has entered a joint venture with the OST Group, one of Russia's largest producers of spirits and soft drinks.
O-I has purchased a minority stake in OST Tara, an OST Group company that operates a glass container plant near Moscow. The plant began production in May 2004. As part of the joint venture, O-I may acquire a controlling interest in OST Tara in the future.
O-I also has entered into a technical assistance agreement and a long-term supply contract with OST Tara.
The OST Tara plant produces more than 200 million glass bottles per year. Additionally, the plant was designed to be environmentally friendly, with a full waste recycling system. Prior to the opening of the plant, the OST Group purchased bottles from O-I's operations in Finland, as well as other suppliers in Ukraine and Latvia.
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