Owens-Illinois (OI, Toledo, Ohio / USA; www.o-i.com), one of the world leaders in glass packaging, is seeking to exit the plastics packaging sector. The company has retained investment banker Goldman Sachs to "review strategic options" for the business, which had sales of around USD 770m (EUR 600m) in fiscal 2006 (30 September), around 10% of the group´s overall sales. Analysts, which applauded the plans, said the plastics activities, which OI chairman and CEO Albert P.L. Stroucken described as a "very attractive franchise," is non-core and is being put up for sale to help stem mounting operating losses within the OI-group.

Following the sale of the blow moulded bottles business to Graham Packaging in 2004 (see Plasteurope.com Web of 05.08.2004), the OI plastics packaging portfolio includes containers for pharmaceutical and other health and consumer applications, as well as injection moulded closures. It operates production plants in the US, Mexico, Brazil, Hungary, Singapore and Malaysia. Altogether, Owens-Illinois employs 30,000 people in more than 100 manufacturing facilities in 23 countries.