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O-I predicts ‘challenging’ 2008Simeon Goldstein, 1 May 2008Be the first to comment on this article Owens-Illinois (O-I), the US-based glass packaging manufacturer, is expecting a “challenging” 2008, due to rising energy and raw material costs, despite improved earnings for the first quarter of the year. O-I recorded net earnings of $178m (£89.5m) for the three months to 31 March, compared to $53.2m in the same period last year. Chairman and chief executive Al Stroucken said the results reflected a "robust process" for maximising efficiencies and a strategy that favoured price over volume. O-I recorded net sales of $1.9bn for the three months to 31 March, up from $1.6bn in 2007. Stroucken added that the firm would continue to look for expansion opportunities and work with customers to improve packaging to "help distinguish brands in the marketplace". Speak Your Mind |
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