Owens-Illinois' glass container sales rose 8.5% in 2002 to $3,875M, and profits rose 13% to $709M. Its European operations saw better margins because of growing unit shipments, better selling prices and manufacturing performance and favourable currency exchange rates. The North American glass container operations of OI achieved 16% rises in sales and profits, mainly due to the factories in Canada acquired from Consumers Glass in 2001. But the temporary closure of its two factories in Venezuela, caused by fuel shortages due to the general strike there, contributed to lower sales and profits in South America. Sales and profits rose 5% in Asia Pacific where higher unit shipments and favourable currency exchange rates were partly offset by lower selling prices for glass containers and by higher warehousing and transportation costs.
