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Venezuela Expropriates Unit Of US-Based Glassmaker Owen Illinois

CARACAS (AFP) -- Venezuelan President Hugo Chavez late Monday announced the expropriation of the local affiliate of the U.S.-based glass maker Owens-Illinois Inc. (OI), accusing it of causing environmental damage and exploiting its workers. The company "has had years exploiting the workers, destroying the environment" in the western state of Trujillo, "and taking away the money of Venezuelans," Chavez said during a government event broadcast on radio and television. Owens-Illinois is a leader world glass bottle maker with some 22,000 workers in 21 countries. In South America, aside from Venezuela it also has operations in Brazil, Colombia, Ecuador and Peru, and focuses on manufacturing glass containers, according to the company website.

Stock News for Owens Illinois (OI)
DateTimeHeadline
04/24/201309:04:55U.S. HOT STOCK FUTURES: HOT STOCKS TO WATCH
01/17/201314:00:15Saint-Gobain Accepts $1.69 Billion Bid For Glass Bottle Unit
01/17/201313:37:09Saint-Gobain Accepts $1.69 Billion Ardagh Offer for Verallia's...
01/14/201314:20:14Ardagh Buys Saint-Gobain Unit for $1.7 Billion
04/21/201200:20:37MARKET SNAPSHOT: U.S. Stock Gains Hinge On Apple, Blue-chip Results
01/26/201218:05:02World Bank Confirms Venezuela's Exit From Investment Dispute...
01/26/201209:23:33US STOCK FUTURES: HOT STOCKS TO WATCH
07/27/201117:38:22Owens-Illinois 2Q Net Down 46% On Expenses; Revenue Up
06/23/201111:36:23IPO WATCH: Volatile Markets Fell More Deals In Europe
06/15/201110:03:21CORRECT: Owens-Illinois Cuts 2Q Earnings View On Higher Costs
06/15/201109:45:20Owens-Corning Cuts 2Q Earnings View On Higher Costs; Shares Down
05/23/201116:56:21Owens-Illinois Refinancing Debt With $2 Billion Bank Credit Agreement
04/27/201117:10:12Owens-Illinois 1Q Profit Down 15% On Higher Borrowing Costs
01/26/201117:40:11Owens-Illinois 4Q Loss Widens On Venezuela Charge
10/28/201011:13:22Owens-Illinois: Venezuela Set To Take Over Operations There
10/27/201017:52:13Owens-Illinois 3Q Net Up 9.5% But Revenue, Margins Slide
10/26/201000:54:19Venezuela Expropriates Unit Of US-Based Glassmaker Owen Illinois
09/01/201019:58:12Owens-Illinois Buys Brazilian Glassmaker For $463 Million, Tax...
07/28/201017:21:26Owens-Illinois 2Q Net Down 5.5% On Lower Revenue In Europe
07/02/201010:10:30MARKET SNAPSHOT: U.S. Stocks Rise As Jobless Rate Edges Down

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