O-I Acquires Remaining Interest in Its Brazilian Operations for $140M

Owens-Illinois, Inc. OI today announced the acquisition of the remaining 21 percent interest in its southern Brazil glass container company, Owens-Illinois do Brasil Industria e Comercio SA. The remaining interest was acquired from Monteiro Aranha SA for approximately $140 million in cash and gives O-I 100-percent ownership in Comercio. O-I expects this transaction to be accretive to 2011 earnings.