Owens-Illinois signs billion-dollar deal with Enron to save energy costs

Enron Energy Services, one of the worlds largest electricity, natural gas, and communications companies, has signed into a ten-year, $2.2 billion-dollar energy management agreement with Owens-Illinois Inc., a leading producer of glass and plastics packaging, to manage the supply of electricity and natural gas to fifty-three Owens-Illinois facilities in twenty states. Enron will also look for ways to reduce Owens-Illinois aggregate demand.

Owens-Illinois Vice President Richard A. Jun says his company expects the contract to provide savings and reduce exposure to short-term energy price fluctuations. For more information, contact Owen-Illinois.