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Owens-Illinois, Inc. (OI)

  • Wed, May 13, 7:48 AM
    • Owens-Illinois (NYSE:OI) agrees to acquire Vitro’s food and beverage glass container business for $2.15B in a move that will allow OI to expand in the growing market for food packaging in Mexico.
    • OI expects the deal to add $0.50 to EPS in the third year after closing and to generate $945M/year in revenue; the deal is expected to close within a year.
    • OI will add Vitro’s five Mexican factories and one in Bolivia, and retain the leadership of the company’s food-and-beverage operations.
    • OI +2.7% premarket.
    | Wed, May 13, 7:48 AM | 2 Comments
Company Description
Owens-Illinois Inc is a manufacturer of glass containers in Europe, North America, Asia Pacific and South America. The main product lines are glass containers for the food and beverage industries.