Owens-Illinois, the world's largest glass bottle manufacturer, has said that it will lower its second-quarter profit budget and said that the profit rate may decline. Although the company has been increasing its production and sticking to its forecast of global shipment growth, the recent rising production and transportation costs in North America and the increase in interest rates in Australia will have a greater impact on its quarterly profit. The company attributed this phenomenon to the recent weak market demand in the Asia-Pacific region and supply chain issues in North America, which caused its share price to fall by 8 percentage points.
Beresberg, a subsidiary of Illinois, said that it hopes to slightly reduce the expected profit value in the second quarter, and cut the interest rate by 3-6 percentage points compared with the same period of last year to ensure that it is in line with expected revenue.
The strengthening of currency circulation in Australia and New Zealand has also brought greater resistance to the company's two end markets, the white wine bottle and the beer bottle market.
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