O-I Announces Expansion of Glass Container Manufacturing in Lurin, Peru
March 12 2008 - 9:46AM
PR Newswire (US)
New global engineering center to be created PERRYSBURG, Ohio, March
12 /PRNewswire-FirstCall/ -- Owens-Illinois, Inc., (NYSE:OI) today
announced it is doubling the capacity of its new glass container
manufacturing plant in Lurin, Peru, by adding a second furnace. CEO
Al Stroucken made the announcement at the official opening ceremony
of the plant. (Logo:
http://www.newscom.com/cgi-bin/prnh/20050412/CLTU028LOGO ) The $30
million expansion, which is expected to be in full operation in the
second quarter of 2009, will support the region's continuing growth
in demand for glass packaging and will create approximately 65 new
jobs. "The growing demand for glass packaging by various market
segments in Peru, most notably the agricultural export market and
the domestic beer market, has clearly demonstrated a need for
increased production," said Jose Lorente, president, O-I Latin
America. "We are pleased we can meet this demand by expanding our
Lurin operations, and we see the potential for some exports as
well." The company also announced it will establish an engineering
center at the Lurin manufacturing facility. The new center is
expected to be operational in the second quarter of 2008 and will
create approximately 60-80 jobs over the next 12 to 18 months. This
realignment of the Company's engineering resources to Lurin from
the global center in Perrysburg will enhance the engineering
support capabilities. "Engineering is a core capability of O-I that
we will continue to build upon by organizing resources globally to
support the needs of our facilities," said Andres Lopez, vice
president, global manufacturing and engineering. "Establishing this
center will also allow us to deliver on our strategy to grow with
emerging economies, while serving O-I's global engineering needs
more efficiently." The Lurin facility is the first O-I plant to be
built outside of the United States in 30 years. It began production
in October 2007 and is operating at world-class standards. It has
already manufactured more than 111 million glass containers. O-I
also operates another glass container manufacturing facility in
Callao, Peru. 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 83 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, or Investor
Relations, Sasha Sekpeh, +1-567-336-2355, both of Owens-Illinois,
Inc. /First Call Analyst: Web site: http://www.o-i.com/
Copyright
OI Glass (NYSE:OI)
Historical Stock Chart
From Jun 2024 to Jul 2024
OI Glass (NYSE:OI)
Historical Stock Chart
From Jul 2023 to Jul 2024