Owens-Illinois, Corning report second quarter results
Owens-Illinois, Inc. reported financial results for the second quarter ending June 30, 2014. Second quarter 2014 earnings from continuing operations attributable to the company were $0.80 per share (diluted), compared with $0.81 per share in the same period of 2013. Most regions generated year-over-year volume growth for the quarter. The company reported strong gains in South America, modest growth in Europe and North America, and lower volume in Asia Pacific. Corning Incorporated, too, announced its results for the second quarter of 2014. Core sales were $2.6 billion, a 28-percent increase on a year-over-year basis. Net sales (GAAP) were $2.5 billion, a 25-percent increase on a year-over-year basis. Core earnings were $0.37 per share, a 16-percent improvement over a year ago, marking the seventh consecutive quarter of year-over-year core EPS growth. GAAP earnings per share were $0.11.
New Jersey lawmakers meet with Ardagh Glass in a bid to stop closure of Salem plant
Top government officials met recently with representatives from Ardagh Glass in a bid to stop the planned closure of its 150-year-old Salem, New Jersey plant. State Senate President Stephen Sweeney said afterward the key to saving the plant and its 290 jobs is for Ardagh to find another customer to replace the business that it recently lost. If it does, New Jersey can step in to “support them to make the site competitive with any other plant in the country.” The planned closing of the plant on Oct. 15, announced late last Wednesday, sent shock waves through the county. Ardagh is the last glass manufacturing facility in Salem City and one of few left today in the state.
AK Steel’s blast furnace shuts down
AK Steel’s blast furnace in Ashland, Ky., which already unexpectedly shut down once this year due to some kind of malfunction in February, has shut down again. “AK Steel recently experienced an unplanned stoppage at its Ashland Works (KY) blast furnace,” says spokesman Mike Wallner in an email. “The company is working to remedy the situation and minimize any potential impact on its customers.”