This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

O-I Expands Strategic Relationship With Nestle Waters

PERRYSBURG, Ohio, July 26, 2011 /PRNewswire/ -- Owens- Illinois, Inc., the world's largest glass container manufacturer, today announced the acquisition of VDL Company, a single-furnace glass container plant in Vergeze, France, effective August 1, 2011. The acquisition is the result of a new strategic relationship with Nestle Waters, the world's leading bottled water company. The Vergeze plant is located near the Nestle Waters' Perrier bottling facility and has a long-standing supply relationship with Nestle Waters. Under the terms of the acquisition agreement, O-I will become the leading supplier of glass bottles for the Perrier brand, as well as Nestle Waters' other water brands worldwide.

(Logo:   http://photos.prnewswire.com/prnh/20050412/CLTU028LOGO )

O-I has long supplied Nestle Waters' S. Pellegrino line, and the brand's CEO is currently featured in O-I's Glass Is Life™ global advertising campaign.

"As a result of this deeper strategic relationship with Nestle Waters, O-I has the opportunity to support some of the preeminent brands in the water segment and reinforce glass' position in this important category," said Jose Lorente, president of O-I Europe.

O-I announced the intent to acquire the Vergeze plant in November 2010, pending the completion of a restructuring plan to bring the facility's costs in line with those of other O-I Europe plants.

O-I will pay approximately $15 million related to the acquisition of the Vergeze plant, which employs 132 people. The acquisition is expected to be earnings accretive in 2012.

About O-I

Owens- Illinois, Inc. (NYSE: OI) is the world's largest glass container manufacturer and preferred partner for many of the world's leading food and beverage brands. With revenues of $6.6 billion in 2010, the company is headquartered in Perrysburg, Ohio, USA, and employs more than 24,000 people at 80 plants in 21 countries. O-I delivers safe, effective and sustainable glass packaging solutions to a growing global marketplace. For more information, visit www.o-i.com

SOURCE Owens- Illinois, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs