O-I Glass

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This article is about the glass company. For the article about the Japanese super-heavy tank, see O-I super-heavy tank.
O-I Glass, Inc.
FormerlyOwens-Illinois, Inc.
Company typePublic
IndustryPackaging
Glass
Founded1929; 95 years ago (1929) in Toledo, Ohio, U.S.
FounderMichael J. Owens
Headquarters
Perrysburg, Ohio
,
U.S.
Key people
Andres Lopez (CEO)
ProductsGlass
ServicesGlass manufacturing
RevenueIncrease US$6.4 billion (2021)
Increase US$449 million (2021)
Increase US$172 million (2021)[1]
Number of employees
24,000 (2021)
Websiteo-i.com

O-I Glass, Inc. is an American company that specializes in

Asia-Pacific and Europe (after acquiring BSN Glasspack in 2004[3]
).

Company

O-I Location in Holzminden, Germany

While legally known as Owens-Illinois, Inc.,[citation needed] 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.[citation needed]

The company's headquarters were previously located at

Corning Incorporated to form Owens Corning.[citation needed
]

In 1971 Owens-Illinois produced an early commercial plasma display, the digivue.[5]

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, a United Kingdom listed packaging manufacturer.[6]

Owens-Illinois was a part of the Dow Jones Industrial Average from June 1, 1959, until March 12, 1987. The company was added to the S&P 500 Index in January 2009. Owens-Illinois was one of the original S&P 500 companies in 1957. It was removed in 1987 (after purchase by KKR), added in 1991 and removed again in 2000.[7]

In October 2010, Owens-Illinois Venezuela C.A was

expropriated by President Hugo Chávez.[8]

In May 2015, O-I made an offer to purchase the food and beverage glass container business of Mexican company Vitro for $2.15 billion.[9] The acquisition closed in September 2015.[1]

In 2020, a subsidiary of O-I Glass, Paddock Enterprises, entered bankruptcy following numerous asbestos lawsuits filed against the company. All of the company’s asbestos-related claims were isolated within Paddock and separated from O-I's glass-making operations.[10]

Partnership with NEG

Owens-Illinois partnered with NEG (

Pittston
, Pennsylvania, plants in the 1970s through the mid-1990s before allowing Techneglas to take over the operations.

Environmental issues

Although it has not made asbestos-containing materials since 1958, Owens-Illinois invented, tested, manufactured and distributed KAYLO asbestos containing thermal pipe insulation from 1948 through 1958.[11] Owens-Illinois remains a named defendant in numerous asbestos litigation matters throughout the U.S.[12] Some claims in these cases allege that Owens-Illinois was a participant in the seventh annual Saranac Seminar[13] when the cancer-causing potential of asbestos was studied in the 1950s.[14]

As a result of a pattern of violations producing repeat emissions, its Oregon plant was fined in August 2023 by the Oregon Department of Environmental Quality. This was their 10th fine.[15]

See also

References

  1. ^ Financial Statements for Owens-Illinois Inc - Google Finance
  2. ^ "Owens-Illinois". Fortune. Retrieved 2018-12-23.
  3. ^ "Owens-Illinois acquisition receives EC approval". PackWire.com. 2004-06-11. Archived from the original on 2015-07-22. Retrieved 2007-10-16.
  4. ^ "Company Facts". o-i.com. Archived from the original on October 31, 2018. Retrieved July 24, 2017.
  5. doi:10.1109/T-ED.1971.17263
    .
  6. ^ "Owens-Illinois sells plastics unit to Rexam". Reuters. 2007-06-11. Retrieved 2023-03-20.
  7. ^ Staff (December 25, 2008). "Owens-Illinois Inc. headed back to S&P 500 stock index". The Blade. Retrieved November 20, 2021.
  8. ^ Unión Radio: "Actualidad :: Nota - Owens es la empresa 200 expropiada en 2010". Archived from the original on 2011-07-25. Retrieved 2010-11-20.
  9. ^ "Zacks Equity Research". Zacks. Archived from the original on 28 January 2016. Retrieved 1 July 2015.
  10. ^ Snyder, Kate (2020-01-07). "O-I Glass subsidiary files for bankruptcy amid asbestos lawsuits". Toledo Blade. Retrieved 2020-01-15.
  11. ^ History of Owens-Corning and Owens-Illinois and asbestos online Archived 2011-08-06 at the Wayback Machine
  12. ^ Owens Illinois 10-K for December 2, 2009 listing liabilities (search asbestos)
  13. ^ History of the Saranac Laboratory at Saranac Lake, New York Archived 2012-05-30 at the Wayback Machine
  14. ^ Dukes et al. v. Pneumo Abex (2008 Illinois appellate court opinion, search for Owens and Saranac)
  15. ^ Wozniacka, Gosia (2023-08-25). "Oregon's largest glass-bottle recycler fined 10th time for emissions violations". oregonlive. Retrieved 2023-11-14.

External links

  • Official website
  • Business data for Owens-Illinois:
  • O-I trademarks seen on their vintage glass containers
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