Owens-Illinois

Owens-Illinois
Owens-Illinois, Inc. · Public domain · source
Name	Owens-Illinois
Type	Public
Traded as	NYSE: OI
Industry	Packaging
Founded	1903
Founder	Michael J. Owens, Edward D. Libbey, William E. Levis
Headquarters	Perrysburg, Ohio
Key people	Andres Lopez, John H. Roberts
Products	Glass packaging, Plastic packaging
Revenue	USD 6.7 billion (2020)
Num employees	26,500 (2020)
Website	oi.com

Owens-Illinois is a leading global manufacturer of glass packaging and plastic packaging solutions, with a rich history dating back to 1903, when it was founded by Michael J. Owens, Edward D. Libbey, and William E. Levis in Toledo, Ohio. The company has since grown to become one of the largest packaging companies in the world, with operations in over 20 countries, including Australia, Brazil, China, France, and Germany. Owens-Illinois has a long history of innovation, with notable achievements including the development of the first automatic bottle machine by Michael J. Owens and the introduction of the Libbey Glass Company's soda-lime glass production process. The company has also been recognized for its commitment to sustainability and corporate social responsibility, with partnerships with organizations such as the World Wildlife Fund and the United Nations Environment Programme.

● History

The history of Owens-Illinois dates back to 1903, when Michael J. Owens and Edward D. Libbey founded the Toledo Glass Company in Toledo, Ohio. The company quickly grew and expanded, with the introduction of new products and technologies, including the automatic bottle machine developed by Michael J. Owens and the Libbey Glass Company's soda-lime glass production process. In 1929, the company merged with the Illinois Glass Company to form Owens-Illinois, with William E. Levis as its first president. The company continued to grow and expand throughout the 20th century, with notable achievements including the development of plastic packaging solutions and the introduction of recycling programs. Owens-Illinois has also been involved in various mergers and acquisitions, including the acquisition of the BTR Norden packaging business in 1995 and the purchase of the St. Gobain glass packaging business in 2004. The company has received numerous awards and recognition, including the National Medal of Technology and the Environmental Protection Agency's Energy Star award.

● Products and Services

Owens-Illinois offers a wide range of products and services, including glass packaging solutions for the beverage, food, and pharmaceutical industries. The company's product portfolio includes bottles, jars, and containers made from soda-lime glass, as well as plastic packaging solutions such as polyethylene terephthalate (PET) and high-density polyethylene (HDPE). Owens-Illinois also provides custom packaging solutions, including design and engineering services, to help customers create unique and innovative packaging solutions. The company has partnered with various organizations, including the Coca-Cola Company, PepsiCo, and Nestle, to develop sustainable packaging solutions. Additionally, Owens-Illinois has collaborated with research institutions, such as the Massachusetts Institute of Technology and the University of California, Berkeley, to develop new packaging technologies.

● Company Structure

Owens-Illinois is a publicly traded company listed on the New York Stock Exchange (NYSE) under the ticker symbol OI. The company is headquartered in Perrysburg, Ohio, and has operations in over 20 countries around the world, including North America, South America, Europe, Asia, and Australia. Owens-Illinois is led by a team of experienced executives, including Andres Lopez, who serves as the company's president and chief executive officer, and John H. Roberts, who serves as the company's chief financial officer. The company is organized into several business segments, including the Americas segment, the Europe segment, and the Asia Pacific segment. Owens-Illinois has also established partnerships with various industry associations, such as the Glass Packaging Institute and the Plastics Industry Association, to promote sustainable packaging practices.

● Environmental Impact

Owens-Illinois has made a commitment to sustainability and reducing its environmental impact. The company has set goals to reduce its greenhouse gas emissions and energy consumption, and has implemented various initiatives to achieve these goals, including the use of renewable energy sources and the implementation of energy-efficient technologies. Owens-Illinois has also implemented recycling programs and has partnered with organizations such as the World Wildlife Fund and the United Nations Environment Programme to promote sustainable practices. The company has received recognition for its environmental efforts, including the Environmental Protection Agency's Energy Star award and the Dow Jones Sustainability Index. Additionally, Owens-Illinois has collaborated with non-governmental organizations, such as the Nature Conservancy and the World Resources Institute, to develop sustainable packaging solutions.

● Financial Performance

Owens-Illinois has reported strong financial performance in recent years, with revenues of USD 6.7 billion in 2020. The company has a strong presence in the global packaging market, with a diverse customer base that includes leading companies such as Coca-Cola, PepsiCo, and Nestle. Owens-Illinois has also made significant investments in research and development, with a focus on developing new and innovative packaging solutions. The company has received recognition for its financial performance, including being named one of the Fortune 500 companies and receiving the Institutional Investor's Best CEO award. Owens-Illinois has also been recognized by rating agencies, such as Moody's Investors Service and Standard & Poor's, for its strong financial management and creditworthiness. The company has also partnered with financial institutions, such as JPMorgan Chase and Bank of America, to access capital markets and support its growth initiatives.

Category:Packaging companies