PERRYSBURG, Ohio, March 14, 2011 /PRNewswire/ -- Owens-Illinois, Inc., (NYSE: OI) today issued the
following statement concerning the verdict handed down late Friday
afternoon by a McLean County,
Illinois, jury against four defendants, including
Owens-Illinois, in a case alleging
asbestos-related injuries. Of the total $90
million awarded by the jury against the four defendants, a
combined $9.6 million in compensatory
damages were assessed against all defendants, and $40 million in punitive damages were assessed
against Owens-Illinois.
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"Owens-Illinois is disappointed
in the jury's verdict. The plaintiff never worked for
Owens-Illinois or in an
Owens-Illinois facility, nor did
he allege exposure to asbestos-containing materials made or sold by
the company. His alleged exposures did not occur until 1972, which
was 14 years after Owens-Illinois
last made or sold thermal insulation products containing asbestos.
The plaintiff claimed, however, that Owens-Illinois participated in a conspiracy with
other companies to conceal or misrepresent information about the
health risks associated with asbestos exposure.
Owens-Illinois did not conspire
with anyone concerning asbestos health hazards, continues to deny
these conspiracy claims, and will challenge this verdict, if
necessary, in the Illinois Appellate Courts. The company has
successfully defended its position in similar cases and is
confident of a successful outcome in this matter as well.
Owens-Illinois does not anticipate
any changes to its 2011 financial outlook as a result of this
case."
About O-I
Owens-Illinois, Inc. (NYSE: OI)
is the world's largest glass container manufacturer and preferred
partner for many of the world's leading food and beverage brands.
With revenues of $6.6 billion in
2010, the Company is headquartered in Perrysburg, Ohio, USA, and employs more than
24,000 people at 81 plants in 21 countries. O-I delivers safe,
effective and sustainable glass packaging solutions to a growing
global marketplace. For more information, visit
www.o-i.com.
SOURCE Owens-Illinois, Inc.