Big Names Bail on Plastics

Owens-Illinois joins GE in exiting the biz, where high oil prices are hurting profits

With crude oil fetching lofty prices, major U.S. companies are pulling out of the plastics business. General Electrics (GE) and now Owens-Illinois (OI) have sold plastics divisions in recent weeks. Despite declining profits, the companies found buyers willing to pay more than many expected.

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