Owens-Illinois Inc. managers told investors on 9 February 2009 that the bottle manufacturer is about halfway through its two-year effort to streamline and modernize its production, and may shut down a…
Owens-Illinois Inc. managers told investors on 9 February 2009 that the bottle manufacturer is about halfway through its two-year effort to streamline and modernize its production, and may shut down an additional 10 to 15 furnaces in 2009. Ed White, OI“s senior vice president and chief financial officer, told investors at Barclays Capital Industrial Select conference in Miami that an effort to take out 10 furnaces in 2008 reduced its workforce by 1,000 jobs and produced USD 100 million in annual cost savings. He said the company will continue to move production closer to its customers, citing consolidation efforts in 2008 in California and New Zealand.