release from Owens Illinois to the extent the government to expropriate the plants in Venezuela: OFFICIAL STATEMENT
Last night we learned that the government of President Hugo Chavez announced the expropriation of our operations in Venezuela. We are surprised by the decision and are prepared to work with the executive government to fully understand the situation.
For over 50 years, OI has been the supplier of glass containers for food and beverages to meet the needs of the Venezuelan people. Our two plants in Venezuela, located in Los Guayos and Valera, employing over 1000 people, representing less than 5 percent of our total revenue in that segment. We remain committed to compliance with all laws and regulations in the country.
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