O-I to Close Lavington, British Columbia, Glass Container Plant

Date: 27 August 2008
Source: Owens-Illinois, Inc.
Owens-Illinois, Inc., (NYSE: OI - News) announced on Aug. 22,2008  that as a result of the ongoing review of its global manufacturing footprint, the company will close its glass container plant in Lavington, British Columbia, on October 31, 2008.

Existing production from the Lavington plant will be transferred to other O-I facilities.

"This closing was driven by our ongoing global asset utilization process which identified the opportunity to shift our production to other O-I North American facilities, resulting in lower energy consumption and production costs while still meeting current and anticipated market needs," said Scott Murchison, president, North America Glass Containers. Approximately 300 employees will be affected. The company will provide assistance to help employees seeking new jobs.

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 82 manufacturing facilities in 22 countries. In 2007, net sales were $7.6 billion. For more information, visit http://www.o-i.com.

600450 O-I to Close Lavington, British Columbia, Glass Container Plant glassonweb.com
Date: 27 August 2008
Source: Owens-Illinois, Inc.

See more news about:

See more from these topics:

Others also read

Owens-Illinois, Inc. (NYSE: OI), announced today the election of Andres A. Lopez and Joseph J. DeAngelo to its Board of Directors.  
Owens-Illinois (NYSE: OI) announced today the appointment of John Haudrich as Senior Vice President and Chief Strategy and Integration Officer, effective immediately.
Owens-Illinois, Inc. (NYSE: OI) today announced that it has completed the acquisition of the Vitro food and beverage glass container business from Vitro, S.
As part of the joint venture Elme Messer Gaas, Messer, the largest privately owned industrial gases specialist and the second shareholder, the BLRT Grupp, one of the biggest industrial holdings in the Baltic States, have invested around five million euros in a new oxygen production plant in Järvakandi, Estonia.  The facility is on the site of customer Owens-Illinois, Inc., the world's leading manufacturer of container glass.
Owens-Illinois, Inc. (NYSE: OI) today reported financial results for the second quarter ending June 30, 2015.  Second quarter 2015 earnings from continuing operations attributable to the Company were $0.26 per share (diluted).
Vitro, S.A.B. de C.V. (BMV: VITROA), leading glass manufacturer in Mexico, announced that on an Ordinary Shareholders Meeting held today, the Company’s shareholders approved Owens-Illinois, Inc’s. (NYSE: OI) US$2.15 billion offer to acquire 100% of Vitro’s Food and Beverages Glass Containers business assets.   Included in the transaction are five Food and Beverages Glass Container manufacturing plants located in Mexico, the operations in Bolivia and the distribution of such products in the United States.  The value of the offer is on a cash and debt free basis.Not included in this transaction are the assets associated with Vitro’s Cosmetics, Fragrances and Toiletries (“CFT”) segment, the Flat Glass Division (which includes Automotive Glass business and Float Glass for the Construction Market), its equity participation in the Comegua joint venture, in Central America, as well as well as the Company’s Chemical and Machinery and Equipment businesses, with estimated pro forma 2015 consolidated sales of $865 million and EBITDA of $165 million considering the divestiture would have occurred on January first 2015.“We are grateful for the support of our shareholders as we achieve another milestone in our goal to further increase the value of Vitro,” said Adrián Sada Gonzalez, Vitro’s Chairman of the Board. “We look forward to completing the transaction with Owens Illinois, a company that we admire and a leader in the Food and Beverage Glass Containers industry.”Adrián Sada Cueva, CEO of Vitro, commented: "This transaction will further strengthen our Company both operationally and financially.”“Over the past five years we have established a culture of cost controls and increased productivity across the organization while consistently providing high quality products and services to our customers, which have enabled Vitro to achieve CAGR growth of 5.7% in EBITDA between 2009 and 2014.

Add new comment