Owens-Illinois, Inc. reported its first quarter 2006 financial results."While the first quarter was an extremely difficult comparison to theprior year, we are pleased by our executional momentum against our corepriorities.
Despite unprecedented inflationary cost pressures of nearly $100million in the quarter and unfavorable currency translation, we were able tooffset a significant portion of these through revenue increases andproductivity improvements.In addition, we were able to balance cash flow
performance through our continuing focus on working capital and capital
expenditures," said Steve McCracken, O-I Chairman and Chief Executive Officer.