| Type | Public (NYSE: OI) S&P 500 Component |
|---|---|
| Industry | packaging, glass |
| Founded | Toledo, Ohio, USA (1929) |
| Founder(s) | Michael Joseph Owens |
| Headquarters | Perrysburg, Ohio, USA |
| Key people | Chairman/CEO/President Albert P.L. Stroucken CFO & Executive VP Edward C. White President-Global Glass Ops L. Richard Crawford Chief Strategy Officer Greg Sipla President O-I North America Miguel Escobar President O-I Asia Pacific Greg Ridder President O-I Europe Jose Lorente President O-I Latin America Andres Lopez |
| Products | glass |
| Services | glass manufacturing |
| Revenue | US$6.63 billion (2010)[1] |
| Operating income | US$424 million (2010)[2] |
| Net income | US$258 million (2010)[3] |
| Owner(s) | public |
| Employees | 23,000 |
| Website | http://www.o-i.com/ |
Owens-Illinois Inc. (NYSE: OI) is a Fortune 500 company that specializes in container glass products. 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, Asia-Pacific and Europe (after acquiring BSN Glasspack in 2004 [4]). Approximately one of every two glass containers made worldwide is made by O-I, its affiliates, or its licensees.
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While legally known as Owens-Illinois Inc.,[5] the company changed its trade name to O-I in 2005 to group its global operations under a single, cross-language and cross-culture brand name.
Until July 2007, the company was also a worldwide manufacturer of plastics packaging with operations in North America, South America, Asia-Pacific and Europe. Plastics packaging products manufactured by O-I included containers, closures, and prescription containers. In July 2007 O-I completed the sale of its entire plastics packaging business to Rexam PLC, a UK listed packaging manufacturer.
O-I was a part of the Dow Jones Industrial Average from June 1, 1959 until March 12, 1987. The company was added to the Standard & Poor's 500 Index in January 2009. O-I was one of the original S&P 500 companies in 1957. It was removed in 1987 (after purchase by Kohlberg Kravis Roberts), added in 1991 and removed again in 2000.[6]
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 Perrysburg, Ohio. The company is the successor to the Owens Bottle Machine Co founded in 1903 by Michael Joseph Owens and Edward Drummond Libbey.
In October 2010 Owens-illinois Venezuela C.A: was expropriated by President Hugo Chávez.[7]
O-I partnered with NEG (Nippon Electric Glass), to produce glass television screens at its Pittston, Pennsylvania plant in the 1970s through the mid-1990s before allowing Techneglas to take over the operations.