Owens-Illinois
From Wikipedia, the free encyclopedia
Owens-Illinois NYSE: OI is a Fortune 500 company that specializes in plastics and 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, and China, and one of the largest in Europe. Approximately one of every two glass containers made worldwide is made by Owens-Illinois, its affiliates, or its licensees.
The company is 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 include containers, closures, and prescription containers.
Owens-Illinois is the leading supplier in almost all of the market segments it serves.
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 headquarters, until 2006 located in Toledo, Ohio, were expected to be moved in the latter part of the year to the smaller suburb of Perrysburg, Ohio where the company owns a large facility and where it constructed a new headquarters building. The former headquarters in Toledo, One Seagate, is a prominent skyscraper; however, because of the O-I departure, One Seagate was expected to be less than 25% full by the end of the year. With such a low occupancy rate, the future of the building was under debate.
Owens-Illinois partnered with NIG (Nippon Electric Glass), to produce glass television screens at its Pittston, Pennsylvania plant in the 1970's through the mid 1990's before allowing Techneglas to take over the operations.
