American bottler warns of slump in Aussie bottle orders
on 31/07/11 at 10:08 amIndustry
THE world’s leading glass packaging supplier, Owens-Illinois, has revealed its shipments of wine and beer bottles within Australia and New Zealand has slumped 20 per cent, providing further evidence of the marked slowdown in beverage consumption as drinkers stay away from pubs, clubs and liquor shops.
United States-based Owens-Illinois, which is also the Asia-Pacific’s leading glass packaging supplier, has warned the poor outlook for the beer and wine sector will force it to restructure its local operations with $50 million set aside for capital expenditure and redundancies.
The calamitous state of Australian consumerism is becoming well known to some of the most powerful US executives who sit atop global multinationals. Last week, McDonald’s president and chief operating officer Donald Thompson told US analysts Australia was starting to feel some of the economic pressure the rest of the world has been feeling since the global financial crisis, driven by the higher cost of living.