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Owens-Illinois, Inc.: O-I Completes Acquisition of Vitro's Food and Beverage Business


For more information, contact:

| David Johnson Barbara Owens |
| Vice President, Investor Relations Senior Communications Adviser |
| Perrysburg, Ohio, U.S. Perrysburg, Ohio, U.S. |
|+1 567 336 2600 +1 567 3365585 |
| |
O-I Completes Acquisition of Vitro's Food and Beverage Business

Perrysburg, Ohio (September 1, 2015) - Owens-Illinois, Inc. (NYSE: OI) today
announced that it has completed the acquisition of the Vitro food and
beverage glass container business from Vitro, S.A.B. de C.V. (BMV: VITROA) in
a transaction valued at approximately $2.15 billion.

Vitro is the largest supplier of glass containers in Mexico and manufactures
glass containers across multiple end uses, including food, soft drinks, beer,
wine and spirits. The transaction includes Vitro's five food and beverage
glass container plants in Mexico, a plant in Bolivia and the food and
beverage business of Vitro Packaging, its North American distribution
business based in Plano, Texas, which together employ nearly 6,000 people.

"As a leader in the strong and growing Latin American market, the addition of
Vitro represents a significant opportunity to extend our global franchise and
further build upon our position as the world's leading glass packaging
company," said Al Stroucken, chairman and CEO of O-I.

The transaction provides O-I with a competitive position in the attractive
glass segment of the packaging market in Mexico, further enhancing O-I's
position as the world's foremost glass container producer. O-I expects the
transaction to be accretive to earnings and cash flow in the first year. The
Company anticipates that in the third year after closing, EPS accretion will
reach approximately $0.50 per share.

According to Andres Lopez, O-I's chief operating officer: "Vitro's food and
beverage business' current management team has a proven track record of
meeting customer needs and serving local markets, and we are pleased that
they will continue to lead the business. Our intent is to allow the business
to operate much as it has in the past. We are pleased to have completed this
transaction earlier than anticipated and - with integration plans well
underway - look forward to successfully bringing together our businesses to
drive greater value for shareholders."

The transaction has received Vitro shareholder approval, as well as relevant
regulatory approvals in the U.S. and Mexico.

# # #

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. The Company had revenues of $6.8 billion in 2014. Following
the acquisition of Vitro's food and beverage business, the company now
employs approximately 27,000 people at 81 plants in 23 countries. With global
headquarters in Perrysburg, Ohio, U.S., O-I delivers safe, sustainable, pure,
iconic, brand-building glass packaging to a growing global marketplace. For
more information,

O-I's Glass Is Life(TM) movement promotes the widespread benefits of glass
packaging in key markets around the globe. Learn more about the reasons to
choose glass and join the movement

The Company routinely posts important information on its website

Forward-looking statements

This press release contains "forward-looking" statements within the meaning of
Section 21E of the Securities Exchange Act of 1934 and Section 27A of the
Securities Act of 1933. Forward-looking statements reflect the Company's
current expectations and projections about future events at the time, and
thus involve uncertainty and risk. The words "believe," "expect,"
"anticipate," "will," "could," "would," "should," "may," "plan," "estimate,"
"intend," "predict," "potential," "continue," and the negatives of these
words and other similar expressions generally identify forward looking
statements. It is possible the Company's future financial performance may
differ from expectations due to a variety of factors including, but not
limited to the following: (1) the Company's ability to integrate the Vitro
Business in a timely and cost effective manner, to maintain on existing terms
the permits, licenses and other approvals required for the Vitro Business to
operate as currently operated, and to realize the expected synergies from the
Vitro Acquisition, (2) risks related to the impact of integration of the
Vitro acquisition on earnings and cash flow, (3) risks associated with the
significant transaction costs and additional indebtedness that the Company
expects to incur in financing the Vitro Acquisition, (4) the Company's
ability to realize expected growth opportunities and cost savings from the
Vitro Acquisition, (5) foreign currency fluctuations relative to the U.S.
dollar, specifically the Euro, Brazilian real, Mexican peso, Colombian peso
and Australian dollar, (6) changes in capital availability or cost, including
interest rate fluctuations and the ability of the Company to refinance debt
at favorable terms, (7) the general political, economic and competitive
conditions in markets and countries where the Company has operations,
including uncertainties related to economic and social conditions,
disruptions in capital markets, disruptions in the supply chain, competitive
pricing pressures, inflation or deflation, and changes in tax rates and laws,
(8) consumer preferences for alternative forms of packaging, (9) cost and
availability of raw materials, labor, energy and transportation, (10) the
Company's ability to manage its cost structure, including its success in
implementing restructuring plans and achieving cost savings, (11)
consolidation among competitors and customers, (12) the ability of the
Company to acquire businesses and expand plants, integrate operations of
acquired businesses and achieve expected synergies, (13) unanticipated
expenditures with respect to environmental, safety and health laws, (14) the
Company's ability to further develop its sales, marketing and product
development capabilities, and (15) the timing and occurrence of events which
are beyond the control of the Company, including any expropriation of the
Company's operations, floods and other natural disasters, events related to
asbestos-related claims, and the other risk factors discussed in the
Company's Annual Report on Form 10-K for the year ended December 31, 2014 and
any subsequently filed Quarterly Report on Form 10-Q. It is not possible to
foresee or identify all such factors. Any forward-looking statements in this
document are based on certain assumptions and analyses made by the Company in
light of its experience and perception of historical trends, current
conditions, expected future developments, and other factors it believes are
appropriate in the circumstances. Forward-looking statements are not a
guarantee of future performance and actual results or developments may differ
materially from expectations. While the Company continually reviews trends
and uncertainties affecting the Company's results of operations and financial
condition, the Company does not assume any obligation to update or supplement
any particular forward-looking statements contained in this press release.

O-I Logo
O-I Completes Acquisition of Vitro’s Food and Beverage Business


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Owens-Illinois, Inc. via Globenewswire


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