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Home > Fortune 500 Companies > Owens Illinois
Owens-Illinois
Owens-Illinois was co-founded by Michael J. Owens as Owens Bottle Company in 1903. In 1965 it changed its name to Owens-Illinois Glass Company in 1929 and to Owens-Illinois, Inc. Owens-Illinois is headquartered in Toledo, Ohio. The company employs nearly 30,000 people and has 100 manufacturing facilities in 23 countries. It’s a publicly traded company having a good stock performance result. Owens-Illinois Inc. is a fortune 500 stock listed company trading under OI. In 2004, annual revenues were 6.2 billion dollars.
Owens-Illinois, Inc., through its subsidiaries, engages in the manufacture and marketing of packaging products worldwide. It operates through two segments, Glass Containers and Plastics Packaging. The Glass Containers segment produces glass containers for malt beverages, including beer and ready to drink low alcohol refreshers, wine, spirits, food, tea, soft drinks, juice and pharmaceuticals. Its customers include brewers, soft drink bottlers, wine vintners, distillers, and food producers. The Plastic Packaging segment manufactures injection-molded plastic containers, such as ovals, closures, vials, dropper bottles, ointment jars, and prescription containers for prescriptions and over-the-counter products; injection-molded containers for deodorant and toothpaste; and compression-molding plastic closures for carbonated soft drink and other beverage closures. The company sells its products to drug chains, drug wholesalers, and mail order pharmacies.
During the five years ended December 31, 2005, on an ongoing operations basis, the company invested more than 1.7 billion dollars in capital expenditures excluding acquisitions and more than 281 million dollars in research, improve labor and machine productivity, development and engineering to, among other things, increase capacity in growing markets and commercialize technology into new products.
Segment Operating Profit of the Plastics Packaging segment for 2005 increased 12.2 million dollars, or 10.6percent, to 127.2 million dollars compared with Segment Operating Profit of 115.0 million dollars in 2004. The 2005 amount includes a 6 million dollars fourth quarter gain from the sale of one plant related to the partial exit from the Australian plastics business and a decrease of the accrued exit costs.
Net sales increased in 2005 by 15.5percent, beyond 7 billion dollars for the first time in our history. Net sales from international operations totaled just about 4.7 billion dollars, representing approximately 67percent of the Company’s net sales for the year ended December 31, 2005. In 2004 and 2005, higher energy costs worldwide negatively impacted the Company’s glass container segment operating profit by 22.8 million dollars and 75.7 million dollars, respectively.
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