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Company News – février 4, 2015 – Hanson Admin

O-I Enters into Agreement to Repurchase $100M of Common Stock

FOR IMMEDIATE RELEASE                                                                                                          

For more information, contact:
David Johnson                                                                       
Vice President, Investor Relations                             
Perrysburg, Ohio, US    
567 336 2600                                                                                                                                        

Lisa Babington
Director, Corporate Communications
Perrysburg, Ohio, US
567 336 1445

O-I Enters into Agreement to Repurchase $100M of Common Stock

Perrysburg, Ohio (Feb. 4, 2015) – Owens-Illinois, Inc. (NYSE: OI) announced today that it has entered into an agreement with J.P. Morgan Chase Bank NA to repurchase $100 million of O-I’s common stock under an accelerated stock repurchase program (ASR). The ASR is part of a previously announced $500 million share repurchase program approved by O-I’s Board of Directors in October 2014. The Company anticipates repurchasing at least an additional $25 million in shares over the course of the year using free cash flow generated from operations.

« Our strong cash flow generation in recent years continues to enhance our financial flexibility » said Steve Bramlage, chief financial officer. « After several years of devoting about 10 percent of free cash flow to anti-dilutive share repurchases, we are now prepared to direct a substantially higher proportion of our cash to our shareholders.
This program is a concrete first step in that direction. »  

The specific number of shares O-I will ultimately repurchase under the ASR will be based on the daily volume weighted-average price of O-I’s common stock during the term of the agreement.

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About O-I
Owens-Illinois, Inc. (NYSE: OI) is the world’s largest glass container manufacturer and preferred partner for many of the world’s leading food and beverage brands. The Company had revenues of $6.8 billion in 2014 and employs approximately 21,100 people at 75 plants in 21 countries. With global headquarters in Perrysburg, Ohio, USA, O-I delivers safe, sustainable, pure, iconic, brand-building glass packaging to a growing global marketplace. For more information, visit

O-I’s Glass Is Life(TM) movement promotes the widespread benefits of glass packaging in key markets around the globe. Learn more about the reasons to choose glass and join the movement at