TOLEDO, Ohio, March 15 /PRNewswire/ -- Owens-Illinois, Inc., (NYSE: OI) today announced that it has agreed to sell Rockware Group Limited, a leading producer of glass containers in the United Kingdom, to a subsidiary of Ardagh plc, the Irish glass container manufacturer based in Dublin, Ireland, for a total consideration of 240 million pounds sterling (approximately US$390 million). The transaction is subject to certain conditions and is expected to close by March 31, 1999.
Owens-Illinois acquired Rockware in April 1998 as part of its purchase of the worldwide glass and plastics packaging businesses of BTR plc. The Commission of the European Communities approved the BTR transaction at that time with the condition that O-I agree to sell the Rockware business. Since the April 1998 acquisition Rockware has been managed separately from Owens- Illinois and its results have not been included in O-I's financial reporting.
Owens-Illinois Profile
Owens-Illinois is the largest manufacturer of glass containers in North America, South America, Australia, New Zealand, and India, and the second largest in Europe. O-I also is a worldwide manufacturer of plastics packaging with operations in North America, South America, Australia, Europe, and Asia. Plastics packaging products manufactured by O-I include containers, closures, prescription containers, labels, and multipack carriers for beverage bottles.
Copies of Owens-Illinois news releases are available 24 hours a day, seven days a week, by fax at Company News on Call, 800-758-5804, Extension 117254, on the Internet at http://www.prnewswire.com, or at the Owens-Illinois website at www.o-i.com.
SOURCE Owens-Illinois, Inc.
Web site: http: //www.O-I.com
Company News On-Call: http: //www.prnewswire.com/comp/117254.html or fax, 800-758-5804, ext. 117254
CONTACT: John Hoff of Owens Illinois, 419-247-1203