28 August 1998: US-based glass and plastics packaging manufacturer Owens-Illinois reported that its second quarter 1998 net income was US$ 100.9 million, compared with US$ 2.4 million in the same peri…
28 August 1998: US-based glass and plastics packaging manufacturer Owens-Illinois reported that its second quarter 1998 net income was US$ 100.9 million, compared with US$ 2.4 million in the same period last year. Before non-recurring items, the company reported earnings of US$ 115 million for the second quarter of 1998, up from US$ 86.9 million a year earlier. Second quarter sales were US$ 1.385 billion, up 13% from US$ 1.225 billion in the second quarter of 1997. “Our second quarter results reflect the contributions of our most recently acquired glass and plastics packaging businesses, our improved financial position, and ongoing efforts throughout the company to improve quality, productivity, and cost control,” said chairman and CEO Joseph H. Lemieux. Lemieux said that with the acquisition of the BTR businesses in April, the company is in an excellent position to meet growing worldwide demand for quality packaging.