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Owens-Illinois, Inc. Message Board

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  • nellgwyn nellgwyn Oct 19, 2000 9:15 PM Flag

    conf. call

    I listened to the replay. It was basically
    positive, like them all. A lot of time was spent on
    asbestos; nothing new, but reassuring. They continue to
    stress that their claimants are old and dying out. They
    noted the bill in congress to help the asbestos
    companies and said that if passed, oi would benefit in the
    "low" 100 million range--a bit vague, but they said it
    was no billion dollar bonanaza. I've bought pretty
    heavily on the basis of these assurances. They may be
    wrong and they may be lying ( which would be illegal)
    but it's the bet I'm making. The most positive part
    of the conference was the 2001 picture. They gave
    guidance for 10% growth, but then hinted at 15%. Their
    contracts for US glass have delayed inflation
    adjustments--the delay hurt this year, but on Jan 1 higher prices
    go into effect. One impression I had was that this
    company has a bit of pricing power.

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    • Analyst believes worst is over for OI. Target
      price of mid-teens is achievable should a number of
      catalysts occur. They are a significant share
      repurchase,sale of assets not germane to currnt operations and/or
      legislation reducing financial exposure to asbestos
      liability. The worst case has been priced into stock.

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