O-I Expands Strategic Relationship With Nestle Waters

Date: 29 July 2011
Source: O-I
Owens-Illinois, Inc., the world´s largest glass container manufacturer, today announced the acquisition of VDL Company, a single-furnace glass container plant in Vergeze, France, effective August 1, 2011.

The acquisition is the result of a new strategic relationship with Nestle Waters, the world´s leading bottled water company. The Vergeze plant is located near the Nestle Waters´ Perrier bottling facility and has a long-standing supply relationship with Nestle Waters. Under the terms of the acquisition agreement, O-I will become the leading supplier of glass bottles for the Perrier brand, as well as Nestle Waters´ other water brands worldwide.

O-I has long supplied Nestle Waters´ S. Pellegrino line, and the brand´s CEO is currently featured in O-I´s Glass Is Life(TM) global advertising campaign.

"As a result of this deeper strategic relationship with Nestle Waters, O-I has the opportunity to support some of the preeminent brands in the water segment and reinforce glass´ position in this important category," said Jose Lorente, president of O-I Europe.

O-I announced the intent to acquire the Vergeze plant in November 2010, pending the completion of a restructuring plan to bring the facility´s costs in line with those of other O-I Europe plants.

O-I will pay approximately $15 million related to the acquisition of the Vergeze plant, which employs 132 people. The acquisition is expected to be earnings accretive in 2012.

600450 O-I Expands Strategic Relationship With Nestle Waters glassonweb.com

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