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O-I Glass

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Owens-Illinois, Inc
Company typePublic (NYSEOI)
Industrypackaging, glass
Founded1929
FounderMichael Joseph Owens
Headquarters,
RevenueIncrease US$8.13 billion [1](2007)
Increase US$-27.5 million (2006)
Number of employees
30,000
Websitehttp://www.o-i.com/

Owens-Illinois is a Fortune 1000 company that specializes in glass containers. It is one of the world's leading manufacturers of packaging products, holding the position of largest manufacturer of glass containers in North America, South America, Australia, New Zealand, China, and Europe (after acquiring BSN Glasspack in 2004 [2]). Approximately one of every two glass containers made worldwide is made by Owens-Illinois, its affiliates, or its licensees.

Until July 2007, the company was also a worldwide manufacturer of plastics packaging with operations in North America, South America, Australia, Europe, and Asia. Plastics packaging products manufactured by O-I included containers, closures, and prescription containers. In July 2007 Owens-Illinois completed the sale of its entire plastics packaging business to Rexam PLC, a UK listed packaging manufacturer.

Owens-Illinois glass plant in Scoudouc, New Brunswick, Canada. It was constructed in an aircraft hangar, part of an abandoned World War II air base. Owens-Illinois is the latest in a long list of owners of the glass recycling plant.

Owens-Illinois was a part of the Dow Jones Industrial Average from June 1, 1959 until March 12, 1987. The company's stock was hurt by Asbestos lawsuits and high fuel prices.

The company's headquarters were previously located in One SeaGate, Toledo, Ohio, a local landmark. The headquarters were moved in late 2006 to the Levis Commons complex in the suburb of Perrysburg, Ohio

Partnership with NIG

Owens-Illinois partnered with NIG (Nippon Electric Glass), to produce glass television screens at its Pittston, Pennsylvania plant in the 1970s through the mid 1990's before allowing Techneglas to take over the operations.

References

  1. ^ http://money.cnn.com/galleries/2008/fortune/0804/gallery.500_best_investments.fortune/3.html
  2. ^ "Owens-Illinois acquisition receives EC approval". PackWire.com. 2004-06-11. Retrieved 2007-10-16.