Last $30.37 USD
Change Today +0.26 / 0.86%
Volume 157.7K
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As of 4:15 PM 12/18/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

300 Madison Avenue

Toledo, OH 43604

United States

Phone: 419-325-2100

Fax:

Libbey Inc. operates as a manufacturer and marketer of glass tableware products worldwide. The company produces glass tableware in 5 countries and sells to approximately 100 countries. The company designs and markets, under its Libbey, Crisa, Royal Leerdam, World Tableware, Syracuse China, and Crisal Glass brand names, a line of glass tableware, ceramic dinnerware, metal flatware, hollowware, and serveware items for sale primarily in the foodservice, retail, and business-to-business markets. The company is a glass tableware manufacturer in Latin America through its subsidiary, Crisa Libbey Commercial, S. de R.L. de C.V., which goes to market primarily under the Crisa brand name. Through its subsidiary, Libbey Glassware (China) Co., Ltd., the company has a glass tableware manufacturing facility in China. Through its subsidiary, B.V. Koninklijke Nederlandsche Glasfabriek Leerdam, the company manufactures glass stemware under the Royal Leerdam brand name. Through its subsidiary, Crisal-Cristalaria Automática S.A., the company manufactures glass tableware in Portugal for its worldwide customer base. The company imports and markets ceramic dinnerware under the Syracuse China brand name through its subsidiary, Syracuse China Company (Syracuse China). Through its World Tableware Inc. (World Tableware) subsidiary, it imports metal flatware, hollowware, serveware, and ceramic dinnerware for resale. Products The company’s tableware products consist of glass tableware (including casual glass beverageware), ceramic dinnerware, and metal flatware, hollowware, and serveware. Its glass tableware includes tumblers, stemware (including wine glasses), mugs, bowls, vases, salt and pepper shakers, shot glasses, canisters, candleholders, and various other items. In addition to its glass tableware product assortment, the company’s products include glass bakeware, handmade glass tableware, and other glass products sold principally to original equipment manufacturers (OEMs), such as blender jars and washing machine windows. The company, through its Syracuse China and World Tableware subsidiaries, offers a range of ceramic dinnerware products. These include plates, bowls, platters, cups, saucers, and other tableware accessories. Its World Tableware subsidiary provides a selection of metal flatware, including knives, forks, spoons, and serving utensils. In addition, World Tableware sells metal hollowware, including serving trays, pitchers, and other metal tableware accessories, as well as a line of ceramic dinnerware. Through 2013, the company had an agreement to be the distributor of Luigi Bormioli glassware in the United States, Canada, and Mexico to foodservice users. In 2013, it had an agreement in which the company would be the distributor of Spiegelau and Nachtmann glassware and serveware products to the U.S. foodservice industry. Spiegelau is known for its fine stemware and other drinkware assortments. Nachtmann offers various upscale serveware, decorative products, stemware, and drinkware for finer dining establishments. Customers The customers for the company’s tableware products include approximately 500 foodservice distributors in the United States and Canada. In the retail channel, it sells to mass merchants, department stores, retail distributors, national retail chains, and specialty housewares stores. In addition, its business-to-business channel primarily includes customers that use glass containers for candle and floral applications, gourmet food packaging companies, and various OEM applications. In Mexico, the company sells to retail mass merchants and wholesale distributors, as well as candle and food packers and various OEM users of custom-molded glass. In Europe, it markets glassware to retailers, distributors, and decorators that service the retail, foodservice, and business-to-business channel, which includes breweries and distilleries for which products are decorated with company logos for promotional and resale purposes. The company also has other customers who use its products for promotional or other private uses. In China, it sells primarily to distributors and wholesalers. Customers and Distribution The company's primary customers in the retail channel include national and international mass merchants. Customers in business-to-business channel include marketers who decorate the company’s glassware with the company logos and resell these products to breweries and distilleries, which redistribute the glassware for promotional purposes and resale. Growth Strategy The company’s growth strategy is to improve its leadership position in major lines of business, including the U.S. foodservice and Mexico foodservice and retail; accelerate growth in China; and better utilize its manufacturing and distribution footprint. Seasonality Primarily due to the impact of consumer consumption and buying patterns and production activity, the company’s sales and operating income, excluding special items, tend to be stronger in the last three quarters of each year (year ending December 2013) and weaker in the first quarter of each year. In addition, its cash flow from operating activities tends to be stronger in the second half of the year and weaker in the first half of the year due to seasonal working capital trends. Research and Development The company’s expenditures on research and development activities related to new and/or improved products and processes were $3.4 million in 2013. Patents and Trademarks The company’s trade names and trademarks include Libbey, Syracuse China, World Tableware, Crisa, Royal Leerdam, and Crisal Glass. History Libbey Inc. was founded in 1818.

 

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