TOLEDO, Ohio, Feb. 5 /PRNewswire/ -- Owens-Illinois, Inc., (NYSE: OI) announced that it completed today the acquisition of certain assets of Anchor Glass Container Corporation. Owens-Illinois has acquired Anchor's glass container manufacturing plants in Antioch and Hayward, Calif., and will assume Anchor's contractual agreements with Coors Brewing Company, including a partnership interest in the Rocky Mountain Bottle Company.
Owens-Illinois is the largest glass container company in the United States, with 21 glass container manufacturing plants in the U.S. in addition to the facilities being acquired from Anchor.
As announced on December 12, 1996, Owens-Illinois agreed to acquire these Anchor assets for approximately $125 million plus the assumption of certain liabilities. The agreement was part of a joint bid by Consumers Packaging Inc. and Owens-Illinois, under which Consumers agreed to purchase the majority of Anchor's assets. Consumers Packaging's portion of the acquisition also has been completed.
Owens-Illinois also announced today the completion of a technical assistance agreement with Consumers Packaging under which Owens-Illinois will provide its glass container manufacturing technology to Consumers Packaging and its affiliates for use in the United States and Canada, including those operations purchased from Anchor today by an affiliate of Consumers.
Owens-Illinois is the largest manufacturer of glass containers in North America, South America, and India, and the second largest in Europe. In addition to Consumers Packaging, Owens-Illinois provides glass container technology and manufacturing equipment under technical assistance agreements with 34 glass container companies around the world. Approximately one of every two glass containers made worldwide is manufactured by Owens-Illinois, its affiliates, or its licensees.
SOURCE Owens-Illinois, Inc.
CONTACT: John Hoff of Owens-Illinois, 419-247-1203