Owens-Illinois ponders future of plastics packaging business
16 January 2007 – Owens-Illinois Inc, the global manufacturer of packaging products and glass containers, has announced a strategic review for its plastics packaging business.
In a statement, the Owens-Illinois (O-I) said the options included a “possible sale” of the plastics business, which has plants in the US, Mexico, Brazil, Hungary, Singapore and Malaysia.
O-I Plastics, which includes healthcare packaging and closure products, had revenues of approximately $770m for the twelve months up to 30 September 2006.
“Our plastics business is a very attractive franchise,” said Albert P.L. Stroucken, O-I chairman and ceo. “We are conducting this review to explore ways of maximising value for our share holders,” he added.
