October 26, 2024
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Streator community offers support after Owens-Brockway factory closure

Closure part of O-I’s larger consolidation plan

By Bill Freskos
An aerial view of Owens-Illinois glass factory on Tuesday Feb. 14, 2023 in Streator.

An aerial view of Owens-Illinois glass factory on Tuesday Feb. 14, 2023 in Streator. Owens-Brockway Glass Container Inc. is shutting down its Streator furnace, impacting 152 employees, as part of a larger consolidation strategy by O-I Glass. (Scott Anderson)

After the recent announcement of the closure of Owens-Brockway Glass Container Inc.’s Streator factory, community leaders and organizations are expressing support for the 152 employees affected by the layoffs, which are scheduled to begin on or after Nov. 18.

The factory has been a significant part of Streator’s history for more than 140 years, as Streator once was known as the “Glass Container Capital of the World.”

This decision follows previous reductions from O-I, including a 2022 shutdown of one of the plant’s furnaces in Streator that cut the workforce from 320 to 160 employees.

According to an article from PackagingDive, O-I Glass, a Fortune 500 company with more than 24,000 employees worldwide, has been undergoing significant restructuring, including the closure of six furnaces across its operations, which represents about 4% of its capacity.

The company expects a $39 million charge associated with the Streator closure, which includes the impairment of plant-related assets and costs related to employee separation.

Owens-Brockway, a subsidiary of O-I Glass, has indicated that although the Streator furnace will close, operations will continue at other domestic plants to serve existing customers.

Locally, the community is rallying around Owens workers.

In a statement, Streator Onized Credit Union expressed its support after the closure and reflected on its long history with the factory.

“As a credit union that began its journey inside the factory in 1939, we feel a profound connection to the workers, their families and the entire Streator community,” according to the statement.

In its statement, SOCU emphasized the importance of coming together as a community while Streator faces this challenge, encouraging residents to support one another.

SOCU pledged to provide financial guidance and resources to assist employees during this transition.

For those in need of assistance or information, SOCU invites community members to call 815-673-5577 or visit socu.org.

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