owens-illinois inc (OI) Key Developments
Owens-Illinois, Inc. Announces Executive Changes
May 29 15
Owens-Illinois, Inc. announced that Sergio Galindo has been named president of O-I North America and Tim Connors has been named president of O-I Asia Pacific, effective June 1, 2015. Galindo, currently president of O-I's Asia Pacific region, brings 20 years of experience to his new role and will be responsible for O-I operations in U.S. and Canada. Connors currently serves as general manager of O-I's Australian operations, which drive the large portion of O-I's business in the region. As president of O-I Asia Pacific, Connors will be responsible for O-I's business in Australia, New Zealand, Indonesia and China, as well as the company's joint venture interests in Malaysia and Vietnam. In his 18-year career at O-I, Connors has served in a variety of finance, manufacturing and business strategy roles. Prior to being named general manager of O-I Australia, he was vice president of finance for the Asia Pacific region for three years.
Owens-Illinois, Inc. Presents at Macquarie's Triple M: Global Metals, Mining & Materials Conference 2015, Jun-10-2015 08:45 AM
May 16 15
Owens-Illinois, Inc. Presents at Macquarie's Triple M: Global Metals, Mining & Materials Conference 2015, Jun-10-2015 08:45 AM. Venue: Omni Berkshire Place, 21 East 52nd Street (Between Madison & 5th Avenues), New York, NY 10022, United States. Speakers: John A. Haudrich, Acting Chief Financial Officer, Vice President of Finance and Corporate Controller.
Owens-Illinois, Inc. Appoints Alan Murray as Non Executive Director
May 15 15
Wolseley plc announced that Alan Murray, Non Executive Director and Senior Independent Director, has been appointed as a Non Executive Director of Owens-Illinois, Inc. with effect from May 12, 2015.
Owens-Illinois, Inc., Distribuidora Álcali, S.A. de C.V., Owens-Brockway Glass Container, Inc., Vitro Packaging, Inc., Vitro, S.A.B. de C.V. - M&A Call
May 13 15
To enter into a stock purchase agreement pursuant to which the company has agreed to acquire Sellers’ food and beverage glass containers business as conducted in the United States, Mexico and Bolivia
Owens-Illinois, Inc. Announces Consolidated Unaudited Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Year 2015
Apr 29 15
Owens-Illinois, Inc. announced consolidated unaudited earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net sales of $1,421 million compared with $1,639 million for the same period a year ago. Earnings from continuing operations before income taxes was $100 million compared with $134 million for the same period a year ago. Earnings from continuing operations was $75 million compared with $107 million for the same period a year ago. Net earnings attributable to the company was $71 million or $0.44 per diluted share compared with $101 million or $0.61 per diluted share for the same period a year ago. Earnings from continuing operations attributable to the company was $71 million or $0.44 per diluted share compared with $102 million or $0.62 per diluted share for the same period a year ago. Total cash utilized in operating activities was $278 million compared with $203 million for the same period a year ago. Additions to property, plant and equipment was $106 million compared with $108 million for the same period a year ago.
The company provided earnings guidance for the year 2015. For the year, the company’s tax rate is still expected to be between 23% and 25%. The company is updating annual adjusted earnings guidance range to between $2 to $2.30 per share. The company expects 2015 free cash flow will approximate $250 million.