Owens-Illinois Becomes O-I, Unites Global Units
April 12 2005 - 10:10AM
PR Newswire (US)
Owens-Illinois Becomes O-I, Unites Global Units Name Change
Represents Focus on Glass, Innovation and Worldwide Strategy
TOLEDO, Ohio, April 12 /PRNewswire-FirstCall/ -- Reflecting one of
the most ambitious transformations in its 102-year history, the
world's largest manufacturer of glass packaging, Owens-Illinois,
Inc., (NYSE:OI) will today begin doing business globally as O-I.
(Logo: http://www.newscom.com/cgi-bin/prnh/20050412/CLTU028LOGO )
With the name change, the company's 22 subsidiaries, including AVIR
S.p.A., in Italy; United Glass Limited, in the U.K.; ACI Packaging
Services Pty. Ltd. in Asia Pacific, and the recently acquired BSN
Glasspack, S.A. in Europe, will be branded O-I. Legal entities
around the world will remain unchanged, for now. The new name
heralds a transformation strategy that began in 2004 to refocus the
company's business and culture to leverage global capabilities,
broaden market base and focus on fundamentals to better compete,
grow and profit in the global packaging industry. "The technologies
and capabilities of O-I are known by our industry and customers
throughout the world," said Steve McCracken, chairman and chief
executive officer. "It is our intent that this symbolic change
reinforces our historical strengths, and be linked to real actions
that our markets have been asking us for: an increased focus on
innovation, greater availability of our global product lines,
investment in developing markets, and a heightened focus on core
market segments." Recent Evolution of O-I O-I has recently moved
from its historical holding company structure to a more global
approach in order to leverage its footprint and resource
capabilities. Under new outside leadership for the first time in
its history, the Company has moved to strengthen key functional
skills and become more externally focused. These changes have been
reinforced by a key portfolio shift resulting from the acquisition
of BSN Glasspack and the subsequent sale of the Company's
blow-molded plastic container business. Retaining a niche plastics
presence in healthcare packaging and specialty closure systems,
O-I's offering is now 88% glass packaging with more than 60% of its
revenue base coming from outside of the U.S. Among other steps in
its transformation, the company has established a European
headquarters in Lausanne, Switzerland, and will open the world's
most modern glass-bottling plant in Windsor, Colo., in the third
quarter. At full capacity, that facility can produce nearly one
billion bottles annually. "As we approach our business from a
global market perspective, we understand the total demand for glass
containers continues to expand, especially in high-end
food-and-beverage categories in the developing world, where we're
ready to leverage our capabilities to meet our customers' needs,"
said McCracken. "Consumers love glass because everything looks
better, feels better and tastes better in glass and it connotes
premium quality." About O-I O-I is the largest manufacturer of
glass containers in the world, with leading positions in Europe,
North America, Asia Pacific and South America. O-I is also a
leading manufacturer of healthcare packaging and specialty closure
systems. http://www.newscom.com/cgi-bin/prnh/20050412/CLTU028LOGO
DATASOURCE: O-I CONTACT: Sara Theis of O-I, +1-419-247-1297, or ;
or Caroline Mikula of Ketchum, +1-312-228-6884, or Web site:
http://www.o-i.com/
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