Glass/plastics packaging group, Owens-Illinois, has turned in a fourth quarter net loss of US$ 1,071.1M, compared with net earnings of US$ 50.3M for the same period the prior year. The fourth quarter net loss included a charge of US$ 450.0M to increase the reserve for estimated future asbestos-related costs; goodwill impairment charges of US$ 720.0M; capacity curtailment charges of US$ 44.0M for the permanent closure of the Milton, Ontario and Perth, Australia glass container plants; an impairment charge of US $43.0M for the writedown of Plastics Packaging assets in the Asia Pacific region; and a charge of US$ 3.9M for an additional loss on the previously announced sale of certain closure assets. The combined after-tax effect of these charges is a reduction of US$ 7.37 in earnings per share.
