FOR IMMEDIATE
RELEASE
For more information,
contact:
David
Johnson
Vice President, Investor
Relations
Perrysburg, Ohio,
US
567 336
2600
dave.johnson@o-i.com
Kristin Kelley
VP Global and Corporate Communications
Perrysburg, Ohio, US
567 336 2395
kristin.kelley@o-i.com
O-I to Host Investor Day on March 1, 2016
Perrysburg, Ohio (January 28, 2016) -
Owens-Illinois, Inc. (NYSE: OI) today announced that it will host
an investor day on March 1, 2016. CEO Andres Lopez and the
executive team will review the Company's long-term strategic plans,
industry trends and operational levers to drive higher earnings and
cash flow over the next several years. The invitation-only event
will take place in New York City.
Lopez will provide investors with a comprehensive update on O-I's
business, including the Company's strategic plans and favorable
trends for key market segments. In addition, he will identify
longer-term commercial development opportunities, including the
Company's successful efforts - by acquisition and by joint venture
- to increase O-I's exposure to fast growing U.S. beer imports and
the Mexican domestic market. He also will highlight ongoing
operational improvements to promote stability and heightened
performance that, as the Company exited the year 2015, have already
begun to impact O-I's end-to-end supply chain and have improved the
core business. Additionally, Lopez will discuss 2016-17 plans to
drive enhanced enterprise profitability.
Chief Financial Officer Jan Bertsch will discuss
how O-I's strategic initiatives will translate into margin
improvement and higher cash flow generation. She will also review
the deleveraging plan to achieve O-I's target leverage ratio.
Chief Strategy and Integration Officer John
Haudrich will provide insight into how O-I's integrated approach
will foster a collaborative culture that will enable
enterprise-wide focus, alignment and benefits going forward. Other
members of the O-I senior management team will provide additional
details on the implementation of the Company's strategic
initiatives.
A live webcast of the event will begin at 8:30
a.m., EST and presentation materials will be available on the O-I
website, www.o-i.com/investors, in the Presentations & Webcast
section. A replay of the webcast will be available following the
call.
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, visit o-i.com.
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 at glassislife.com.
Forward-looking
statements
This document 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 document.
O-I Investor Day
O-I Logo
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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