Owens-Illinois (OI)

[hellcatjr]

(FORM 8Ks in side) - I think the future for OI is looking VERY bright.

Glass containers are GREEN and one of the best ways to store a product. Glass has amazing durability and can be shaped to the needs of the end user. In the end, it is obvious that glass is far more of a viable option then any other options for storing a product.

The company is seeking ways to recycle their own in house wastes to further optimize their business models carbon footprint. OI has continually increased the recycling of cullets to manufacture their products, further reducing their carbon footprint.

There are two fairly important filings that have emerged in the last two days.. The some of the important information within the pdfs are quoted below.

Source: http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=8352724
Source: http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=8355252

Highlights

· Reported net earnings: O-I reported a full year 2011 loss from continuing operations attributable to the Company of $3.12 per share, compared to earnings of $1.55 per share (diluted) in 2010. Despite higher sales and production volumes in 2011, the Company’s full year 2011 reported earnings were significantly lower due to the impact of several charges that management does not consider representative of ongoing operations. These charges were discussed in earlier quarters and include the Company’s goodwill impairment, asbestos-related costs, and restructuring and asset impairment.

· Adjusted net earnings: Excluding the items not representative of ongoing operations, adjusted net earnings (non-GAAP) were $2.37 per share for full year 2011, compared to $2.60 per share for full year 2010. Fourth quarter 2011 adjusted net earnings were $0.48 per share, compared to $0.45 in the fourth quarter of 2010.

· Higher sales and volume in 2011: Prior year acquisitions and organic growth across most regions drove net revenue higher in full year 2011 as tonnes shipped increased by more than 5 percent. Sales also benefited from favorable pricing and foreign currency translation.

· Free cash flow and leverage ratio: O-I generated $220 million of free cash flow (non-GAAP) from continuing operations for full year 2011. At year end 2011, O-I’s leverage ratio was 2.9 times EBITDA.

· 2012 business outlook: O-I has negotiated higher prices on a significant portion of its annually contracted business. To mitigate the impact of unrecovered 2011 inflation and anticipated inflation in 2012, the Company expects higher global pricing. The Company’s shipments in 2012 should be in line with 2011 levels.

ITEM 5.02. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF
CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.

On January 25, 2012, Owens-Illinois, Inc. (the “Company”) announced the pending retirement of the Company’s Senior Vice President and Chief Financial Officer, Edward C. White. Mr. White plans to retire at the end of the second quarter. Mr. White will be succeeded by Stephen P. Bramlage, Jr., age 41, currently President of the Company’s Asia Pacific operations, effective July 1, 2012.

Mr. Bramlage has been President of the Company’s Oceania operations and President of the Company’s Asia Pacific operations since 2011.

From 2010 to 2011, Mr. Bramlage was General Manager of the Company’s New Zealand operations; from 2008 to 2010, Mr. Bramlage was Vice President of Finance of the Company; in 2008, Mr. Bramlage served as Vice President and Chief Financial Officer of the Company’s European operations; and from 2006 to 2008, Mr. Bramlage was Vice President and Treasurer of the Company.

Before joining the Company, Mr. Bramlage spent five years at PPG Industries, Inc., in Pittsburgh, Pennsylvania. Mr. Bramlage also worked with Eli Lilly & Company in corporate finance and with Ernst & Young LLP as an auditor.