Owens-Illinois' Improving Cash Flow Supported by Rising European and Latin American Glass Volumes
Owens Illinois finished the year roughly in line with our expectations, benefiting from both economic and currency tailwinds. Global shipments also rose 1% during 2017, suggesting improved operating rates in both Latin America and Europe. Accordingly, margins rose in both segments during the year. In contrast, volumes fell roughly 3% in North America as beer volumes remain in decline. In total, full-year sales rose roughly 2.5% to $6.9 billion, while segment operating profit climbed 7% to $942 m...
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