Owens-Illinois has announced a strategic review of a number of its blowmoulded plastics operations in Europe, North and South America.
The review aims to “explore all options in maximising value to O-I investors”.
Says O-I executive vice president and general manager of the company’s Plastics Group Terry Wilkinson: “We are confident that our blowmoulded plastics business is an attractive franchise and, like our global glass operations, has significant value. We believe there may be a number of ways for us to benefit our investors as a result of this strategic review.”
ACI Packaging, an Owens-Illinois affiliate, announced in August that ABN Amro is conducting a similar strategic review of its Australian and New Zealand plastics packaging business.
Owens-Illinois is the largest manufacturer of glass containers in North America, South America, Australia and New Zealand, and one of the largest in Europe. It also has plastics packaging operations in North America, South America, Europe, Australia and New Zealand.
Its UK blowmoulding activities are undertaken at PET Technologies’ plastic packaging facility at Chalgrove, Oxfordshire.