Owens-Illinois may repay bank debt with plant sale proceeds

By Caroline Salls

Pittsburgh, Nov. 18 - Owens-Illinois Inc. said it will repay bank debt under the company's secured credit facility or reinvest in its manufacturing facilities with the €138 million cash proceeds from the sale of its two European glass container plants to Vidrala SA.

Owens-Illinois is a Toledo, Ohio, manufacturer of glass containers.

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