Libbey Glass: investment to upgrade and modernize facility

Gov. Bobby Jindal joined Libbey Inc. Chairman and CEO John Meier and Shreveport plant manager Frank Russell on 17 June to make the announcement of upgrades. These will involve the renovation of a majo…

Gov. Bobby Jindal joined Libbey Inc. Chairman and CEO John Meier and Shreveport plant manager Frank Russell on 17 June to make the announcement of upgrades. These will involve the renovation of a major glassmaking furnace and the purchase of related equipment at the 525,000-square-foot manufacturing plant located in Shreveport. “This is yet another great day for Louisiana and a great day for northwest Louisiana,” Jindal said. “Libbey has had a great history in Shreveport but today“s announcement isn“t about Libbey“s long history, but rather it“s about its future and this investment ensures a busy and productive future right here in northwest Louisiana.” Jindal said the move will maintain the plant“s 814 jobs, which have an average annual salary of USD 34,000, plus benefits, and support approximately 1,520 indirect jobs. Louisiana Economic Development (LED) has been working with Libbey, leader of the Western Hemisphere in glass tableware production and the second largest glassware producer in the world, to find opportunities to expand and retain its Shreveport facility. LED offered the company an incentive package that includes the state“s Retention and Modernization tax credit programme, which grants qualifying companies a 5% refundable tax credit on capital upgrades to existing facilities. “Too many states in various parts of the country don“t reach back to the good companies that have helped build a region. They“re always looking for the new girl who came to the dance,” Meier said. “This state has done well by Libbey for many, many years since we“ve been here in 1974. We“re pleased that we were able to collaborate once again with Louisiana to help continue to build the foundation for the future.” Russell said he believes the investment will allow the plant to stay competitive. “It will allow us to continue doing what we do best,” he added. “This is a USD 9 million in our future,” Chris Stevens, a powerhouse attendant, said. “It lets us know they“re investing in our future as much as theirs to keep us around and doing the job we do. It“s a good thing for not only Libbey but for the workers and their families.” Meier said he sees this as the groundwork for a great future in Shreveport.