PERRYSBURG, Ohio , Dec. 27, 2021 (GLOBE NEWSWIRE) -- FOR IMMEDIATE RELEASE 

O-I Glass, Inc. (NYSE: OI and “O-I”) today announced that a subsidiary of the company has entered into a definitive agreement to sell Cristar TableTop S.A.S. (“Cristar”) to Vidros Colombia S.A.S, an affiliate of Nadir Figueiredo S.A., a glass tableware producer based in Brazil. The sale would generate gross proceeds of approximately $95 million and is expected to close during the first half of 2022, subject to customary regulatory approvals and other closing conditions. Cristar owns a dedicated tableware manufacturing plant in Buga, Colombia, that exports tableware to approximately 40 countries around the world and generated approximately $14.6 million of EBITDA⁽¹⁾ during the last twelve months ended September 30, 2021.