O-I lost nearly US$ 882M on continuing operations in the final quarter of 2005. In the same quarter 2004, the company lost US$ 32.7M. The 2005 results includes non-cash charges of US$ 935.6M relating to asbestos claim provisions; a goodwill loss on its Asia Pacific glass business; and a valuation allowance against deferred US tax assets. The company also temporarily idled some glass production capacity during the fourth quarter, but even so was able to repay US$ 248M of debt during the year and invested US$ 404M in capital expenditure. Most of the problems in its glass production results were down to increased prices for energy and raw materials. O-I's glass container segment made an operating profit of US$ 144.6M in the final quarter of 2005, down 25.8% on the same quarter of 2004. Prices and sales volumes both increased.
