OI OI Glass Inc

Owens-Illinois to Explore Options for Parts Manufacturing Plant in Godfrey TOLEDO, Ohio, Jan. 6 /PRNewswire-FirstCall/ -- Owens-Illinois, Inc. (NYSE:OI) today announced that the Company intends to explore various options for its machine parts supply facility in Godfrey, Ill., including a possible joint venture arrangement or outright sale of the facility. Since its opening in 1958, the Godfrey facility has manufactured, assembled and distributed machine parts used in glass container forming machines for O-I subsidiaries, affiliates and licensees around the world. Godfrey currently supplies parts to O-I machine assembly facilities in Colombia, United Kingdom, France, Italy and Brockway, Pennsylvania. "Market conditions and a changing corporate focus have prompted this review. Given our global position, our increasing need for asset, capital and cost optimization combined with our desire to maintain jobs, we feel this is the wisest course of action," said Steve McCracken, O-I Chairman & CEO. "Our goal is to find the best option for more productive use of the underutilized assets at Godfrey. Whether the outcome is joint venture or outright sale, we intend to continue using the Godfrey facility as an important supplier for our parts and equipment needs in the future," continued McCracken. The approximately 300,000-square-foot plant currently employs about 308 people. About O-I Owens-Illinois is the largest manufacturer of glass containers in the world, with leading positions in Europe, North America, Asia Pacific and Latin America. O-I is also a leading manufacturer of health care packaging and specialty closure systems. DATASOURCE: Owens-Illinois, Inc. CONTACT: Sara Theis of Owens-Illinois, Inc., +1-419-247-1297 Web site: http://www.o-i.com/

Copyright