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Published: Wednesday, 12/24/2008

Owens-Illinois to join the S&P 500 index


Owens-Illinois Inc., a Perrysburg glass container maker, will be added to the widely watched Standard & Poor s 500 index next week.

S&P announced Wednesday that the suburban Toledo firm, also a Fortune 500 company, would join the index, replacing Wachovia Corp., a West Coast bank that is being acquired by Wells Fargo & Co. The change occurs after stock trading closes on Dec. 31.

The index, which consists of 500 firms and is diversified in types of companies, is considered a key stock measure to investors nationwide and is used to make market investments by some pension funds, mutual funds, and institutional investors.

S&P also said Wednesday that Libbey Inc., a Toledo firm which makes table glasses and other tableware, will be removed from a lesser known index of smaller companies called the SmallCap 600. It will be replaced after Dec. 31 by Independent Bank Corp.

Read more in later editions of The Blade and toledoblade.com

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