[Trade Journal]
Publication: Glass Industry
New York, NY, United States
vol. 17, no. 5, p. 165, col. 1
OWENS-ILLINOIS CONTINUES EXPANSION
In a recent letter to shareholders, the Board of Directors of the Owens-Illinois Glass Co., in addition to declaring a dividend of $1.25, divulged certain plans for future expansion. The earnings of the company totaled $7,923,152.74 for the 12 months ending March 31, 1936 after deductions. These earnings are equivalent to $6.25 per share on the 1,267,000 common shares outstanding.
Expansion includes the purchase of 22 acres in Oakland, Cal., for the erection of a new factory for Owens-Illinois Pacific Coast Co. This plant is being constructed of glass blocks and glass insulating wool, two of the Company's products. The Streator, Ill., plant will be entirely re-built and re-equipped to afford facilities to customers in the Chicago district. The report also states that substantial sums should be spent to supplement equipment in the Company's other bottle plants.
The business of the Libbey Glass Co. in sales of thin blown tumblers has also increased and will warrant an addition to the factory building and warehouse as well as several additional machines.
Sales of products of the Industrial Materials Division have likewise increased to tax present productive capacity. Additional buildings and presses for manufacturing glass block are being provided at Muncie, Ind., and it is likely that some further enlargements for the production of glass wool for insulating purposes will be required next year. Additional units for the corrugated paper divisions at Streator, Gas City and other plants are to be installed. Additional warehouses and equipment will also be required for the can manufacturing plant serving the Pittsburgh area, and further expenditures will be made on the Baltimore can plant as customer's requirements indicate their need.
