Owens-Illinois remains a named defendant in numerous asbestos litigation matters throughout the U.S. Owens-Illinois partnered with NEG ( Nippon Electric Glass), to produce glass television screens at its Columbus, Ohio, and Pittston, Pennsylvania, plants in the 1970s through the mid-1990s before allowing Techneglas to take over the operations.Īlthough it has not made asbestos-containing materials since 1958, Owens-Illinois invented, tested, manufactured and distributed KAYLO asbestos containing thermal pipe insulation from 1948 through 1958. All of the company’s asbestos-related claims were isolated within Paddock and separated from O-I's glass-making operations. In 2020, a subsidiary of O-I Glass, Paddock Enterprises, entered bankruptcy following numerous asbestos lawsuits filed against the company. The acquisition closed in September 2015. In May 2015, O-I made an offer to purchase the food and beverage glass container business of Mexican company Vitro for $2.15 billion. In October 2010, Owens-Illinois Venezuela C.A was expropriated by President Hugo Chávez. It was removed in 1987 (after purchase by Kohlberg Kravis Roberts), added in 1991 and removed again in 2000. Owens-Illinois was one of the original S&P 500 companies in 1957. The company was added to the S&P 500 Index in January 2009. Owens-Illinois was a part of the Dow Jones Industrial Average from June 1, 1959, until March 12, 1987. In July 2007 O-I completed the sale of its entire plastics packaging business to Rexam PLC, a UK listed packaging manufacturer. Plastics packaging products manufactured by O-I included containers, closures, and prescription containers. Until July 2007, the company was also a worldwide manufacturer of plastics packaging with operations in North America, South America, Asia-Pacific and Europe. In 1971 Owens-Illinois produced an early commercial plasma display, the digivue. Six years later, Owens-Illinois merged with Corning Incorporated to form Owens Corning.
In 1929, the Owens Bottle Company merged with Illinois Glass Company to become Owens-Illinois, Inc. The company is the successor to the Owens Bottle Company founded in 1903 by Michael Joseph Owens, who made the first automated bottle-making machine, and Edward Drummond Libbey. The headquarters were moved in late 2006 to the Levis Commons complex in Perrysburg, Ohio. The company's headquarters were previously located in One SeaGate, Toledo, Ohio, a local landmark. While legally known as Owens-Illinois, Inc., the company changed its trade name to O-I in 2005 to group its global operations under a single, cross-language and cross-culture brand name.
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