O-I Expands Strategic Relationship With Nestle Waters

Owens-Illinois, Inc. (NYSE:

) today announced the acquisition of VDL Company, a single-furnace glass container plant in Vergeze, France, effective August 1, 2011. The acquisition is the result of a new strategic relationship with Nestle Waters, the world's leading bottled water company. The Vergeze plant is located near the Nestle Waters' Perrier bottling facility and has a long-standing supply relationship with Nestle Waters. Under the terms of the acquisition agreement, O-I will become the leading supplier of glass bottles for the Perrier brand, as well as Nestle Waters' other water brands worldwide. O-I will pay approximately $15 million related to the acquisition of the Vergeze plant, which employs 132 people. The acquisition is expected to be earnings accretive in 2012.