Owens Illinois Inc /DE/ - Current report filing (8-K)
August 04 2008 - 4:32PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
July 29, 2008
Date of
Report (Date of earliest event reported)
OWENS-ILLINOIS, INC.
(Exact name of registrant as
specified in its charter)
Delaware
(State or other jurisdiction
of incorporation or organization)
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1-9576
(Commission
File Number)
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22-2781933
(I.R.S. Employer
Identification Number)
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One Michael Owens Way
Perrysburg, Ohio
(Address of principal executive offices)
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43551-2999
(Zip Code)
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(567) 336-5000
(Registrants telephone
number, including area code)
(Former name or former
address, if changed since last report)
Check the appropriate box if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
o
Written communications pursuant to Rule 425
under the Securities Act (17 CFR 230.425)
o
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
o
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
ITEM 2.05.
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COSTS ASSOCIATED WITH EXIT OR
DISPOSAL ACTIVITIES
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On July 29, 2008,
the Company announced its decision to close its Toronto, Ontario glass
container plant. The news release
announcing this closing is filed as Exhibit 99.1 hereto and incorporated by
reference herein.
Subject to finalization
of certain estimates related to the disposition of the plant site, the Company
expects to record a charge associated with the Toronto closure of approximately
$45 million in the third quarter of 2008.
Major components of the charge include approximately $18 million for
impairment of assets and $27 million for one-time employee separation benefits
and other costs related to the closing.
Future cash expenditures related to the closing will be approximately
$28 million.
ITEM 9.01.
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FINANCIAL STATEMENTS AND EXHIBITS.
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Exhibit
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No.
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Description
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99.1
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Owens-Illinois, Inc.
press release dated July 29, 2008
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2
SIGNATURE
Pursuant to the requirements
of the Securities Exchange Act of 1934, as amended, the Registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized
.
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OWENS-ILLINOIS, INC.
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Date: August 4,
2008
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By:
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/s/ Edward C. White
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Name:
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Edward C. White
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Title:
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Senior Vice President
and
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Chief Financial Officer
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3
EXHIBIT
INDEX
Exhibit
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No.
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Description
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99.1
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Owens-Illinois, Inc.
press release dated July 29, 2008
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4
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