Owens-Illinois (O-I) has reported second quarter net sales of $1.766 billion in 2012, down from $1.959 billion in the prior year second quarter, primarily due to unfavourable foreign currency translation.

Higher pricing in the second quarter was offset by sales volumes that were lower than the prior year quarter.

Commenting on the company’s second quarter, Chairman and Chief Executive Officer (CEO) Al Stroucken said: “Earnings improved significantly from the prior year second quarter due to a strong operating performance and positive results from our pricing strategy. Our North American region led the profit improvement this quarter as it successfully eliminated the manufacturing and supply chain inefficiencies experienced in 2011 and re-established itself as a high performing region.”

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