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October 09, 2015 10:54 AM ET

Containers and Packaging

Company Overview of Owens Illinois Group Inc.

Company Overview

Owens-Illinois Group, Inc., through its subsidiaries, manufactures and sells glass containers primarily in Europe, North America, South America, and the Asia Pacific. The company offers glass containers in various sizes, shapes, and colors for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine, as well as food items, soft drinks, teas, juices, and pharmaceuticals. Owens-Illinois Group, Inc. sells its products directly to customers, as well as through distributors in rigid packaging market. The company was founded in 1903 and is headquartered in Perrysburg, Ohio. Owens-Illinois Group, Inc. is a subsidiary of Owens-Illinois, Inc.

One Michael Owens Way

Perrysburg, OH 43551

United States

Founded in 1903

21,100 Employees



Key Executives for Owens Illinois Group Inc.

Chairman and Chief Executive Officer
Age: 67
President, Principal Financial & Accounting Officer and Director
Age: 44
Vice President, Secretary and Director
Age: 64
Controller and Director
Age: 48
Vice President and Director
Age: 53
Compensation as of Fiscal Year 2015.

Owens Illinois Group Inc. Key Developments

Owens-Illinois Group, Inc. Enters into Amendment No. 2 in Respect of its Amended and Restated Credit Agreement and Syndicated Facility Agreement

In connection with the closing of the Vitro Acquisition, on September 1, 2015, Owens-Illinois Group Inc. and certain of its direct and indirect subsidiaries entered into amendment No. 2 in respect of its amended and restated credit agreement and syndicated facility agreement, dated April 22, 2015, by and among OI Group and certain of its direct and indirect subsidiaries, Deutsche Bank AG, New York Branch, as Administrative Agent, Owens-Illinois General Inc., as Borrowers' Agent and the other Agents, Arrangers and Lenders named therein. The credit agreement amendment provides for additional incremental availability under the dollar cap in the credit agreement of up to $1,250 million. In addition, in connection with the closing of the Vitro Acquisition, on September 1, 2015, OI Group and certain of its direct and indirect subsidiaries entered into the first incremental amendment to the credit agreement. The incremental amendment included $1,250 million of senior secured incremental term loan facilities, comprised of a $675 million term loan A facility subject to substantially the same terms and conditions (including as to maturity) as the term loan A facility in the credit agreement and a $575 million term loan B facility maturing seven years after the closing of the Vitro Acquisition using capacity under the credit agreement. The interest rate on the incremental term loan B facility is, at OI Group's option, the Base Rate or the Eurocurrency Rate, as defined in the Credit Agreement, plus an applicable margin. The applicable margin for the term loan B facility is 2.75% for Eurocurrency Rate loans and 1.75% for Base Rate loans. The incremental term loan B facility is subject to a LIBOR floor of 0.75%. The Incremental Amendment obliges OI Group to make mandatory prepayments with excess cash flow, on an annual basis commencing with excess cash flow for the fiscal year ending December 31, 2016, on the terms and subject to the conditions set forth in the credit agreement.

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