Owens-Illinois Reports Second Quarter Results

Owens-Illinois reported net earnings of $110.9m for the second quarter of 1999. Excluding unusual items, second quarter earnings from operations were $101.3m. In the second quarter of 1998, the company reported earnings before extraordinary items of $115.0m. Second quarter 199 net sales were $1.423bn, ($1.385bn). The domestic glass container operations benefited from strong demand during the quarter, reflected in higher unit shipments of beer, food and liquor containers. The international operations continued to be adversely affected by conditions in South America and Eastern Europe as well as continued weak demand in the UK. Affiliates in China and Indonesia reported year-over-year increases in shipments and sales. (whole item)