Owens-Illinois Inc. chief financial officer Ed White said 10 September 2007 that he expects higher inflation later in 2007 to hinder growth.
Glass container maker Owens-Illinois will likely post slow…
Owens-Illinois Inc. chief financial officer Ed White said 10 September 2007 that he expects higher inflation later in 2007 to hinder growth. Glass container maker Owens-Illinois will likely post slower growth in the next few months because of higher spending for maintenance work on a number of facilities, Mr. White said at the Wachovia Securities“ global packaging and transportation conference. He also said seasonal factors will affect performance as the year progresses. Specifically, he said the 3Q tends to slow down as many Europeans are on vacation in August. Looking ahead, Mr. White remained positive on attributes of the glass business and outlined several objectives for the company, including stronger pricing to drive an improvement in margins. He also said the company planned to review its facilities worldwide and also concentrate on rolling out new products and focus on ways to improve value for customers.