O-I Announces Further Realignment of Global Footprint
July 29 2008 - 8:00AM
PR Newswire (US)
Expanding Auckland, New Zealand; Closing Toronto, Ontario, Glass
Container Plants PERRYSBURG, Ohio, July 29 /PRNewswire-FirstCall/
-- Owens-Illinois, Inc., (NYSE:OI) announced today both a regional
expansion and contraction as a result of the ongoing review of its
global manufacturing footprint. (Logo:
http://www.newscom.com/cgi-bin/prnh/20050412/CLTU028LOGO ) The
company will invest approximately NZ $80 million ($60 million USD)
to expand its Auckland, New Zealand, plant, by adding an additional
furnace and two glass container forming machines. The Auckland
expansion, which is expected to be in full operation by the first
quarter of 2010, will increase the annual output of glass
containers from the plant by 90,000 tons to help support the
country's continuously growing demand for glass packaging. The
expansion will create about 35 new jobs and provide the plant with
the ability to make 2.2 million bottles per day once it is fully
operational. Additionally, the company will close its glass
container plant in Toronto, Ontario, after a global facility review
of underutilized assets identifies the opportunity to shift
production to other O-I North American facilities. The closing will
occur on September 30, 2008. Approximately 430 employees will be
affected. The company will provide assistance to help employees
seeking new jobs. "As we further realign our global footprint, we
are committed to expand in those regions where we have an
attractive growth profile as we do in New Zealand and contract
where we have the opportunity to consolidate our furnace base and
use it more effectively, which was the basis of the Toronto
decision," said Al Stroucken, Chairman and CEO. "We will
continually work to optimize our asset and furnace utilization
while at the same time expand in the regions where profitable
growth supports new investments." About O-I Millions of times a
day, O-I glass containers deliver many of the world's best-known
consumer products to people all around the world. With the leading
position in Europe, North America, Asia Pacific and Latin America,
O-I manufactures consumer-preferred, 100 percent recyclable glass
containers that enable superior taste, purity, visual appeal and
value benefits for our customers' products. Established in 1903,
the company employs more than 24,000 people with 82 manufacturing
facilities in 22 countries. In 2007, net sales were $7.6 billion.
For more information, visit http://www.o-i.com/ .
http://www.newscom.com/cgi-bin/prnh/20050412/CLTU028LOGO
http://photoarchive.ap.org/ DATASOURCE: Owens-Illinois, Inc.
CONTACT: Media, Lauren Dubilzig, +1-567-336-1312; Investor
Relations, Sasha Sekpeh, +1-567-336-2355, both of O-I Web site:
http://www.o-i.com/
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