Formerly |
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Company type | Public |
ISIN | US5298981086 |
Industry | Glassware manufacturing |
Founded | February 6, 1818 |
Founder | Edward Drummond Libbey |
Headquarters | 300 Madison Avenue, , United States |
Number of locations | 7 facilities, including headquarters (FY 2018) |
Key people | |
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Revenue |
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Total assets |
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Number of employees | 6,083 (FY 2018) [1] |
Website | https://libbey.com |
Libbey, Inc., (formerly Libbey Glass Company and New England Glass Company) is a glass production company headquartered in Toledo, Ohio. It was originally founded in 1818 in Cambridge, Massachusetts, as the New England Glass Company, before relocating to Ohio in 1888 and renaming to Libbey Glass Co. After it was purchased in 1935, it operated as part of the Libbey-Owens-Ford company and as a division of the Owens-Illinois glass company until 1993, when it was separated back into an independent company. [2]
The company manufactures a number of glassware products, primarily tableware, drinkware and stemware. Historically, it was also involved in producing other types of glass products, such as automotive glass, glass drinking bottles, and light bulbs.
The New England Glass Company was originally founded in Cambridge, Massachusetts, by Amos Binney, Edmund Munroe, Daniel Hastings, and Deming Jarves on February 16, 1818. The company produced both blown and pressed glass objects in a variety of colors, which had engraved, cut, etched, and gilded decorations. The firm was one of the first glass companies to use a steam engine to operate its cutting machines, and it built the only oven in the country that could manufacture red lead, a key ingredient in the making of so-called flint glass. By the middle of the nineteenth century, the New England Glass Company was considered one of the leading glasshouses in the United States, best known for its cut and engraved glass. [3] [4]
At its start, the company occupied a disused East Cambridge warehouse erected by the recently failed Boston Porcelain and Glass Company. It was fitted with two flint furnaces, 24 steam-operated glass-cutting mills, and a red-lead furnace, which in combination could produce many types of plain, molded, and cut glass. [5] The company charter permitted it to manufacture "flint and crown glass of all kinds in the towns of Boston and Cambridge." At that time, about 40 glass factories existed in the United States, though most had few employees. Deming Jarves held one key advantage over his competitors in the glass manufacturing business; he held the American monopoly on red lead (litharge), which was essential for the production of fine lead glass. In 1826, however, Jarves left to found the Boston and Sandwich Glass Company. [3] [6]
Through the 1820s, the company exhibited at the American Institute Fair, won a Franklin Institute award for "skill and ingenuity," and established agencies in New York, Philadelphia, and Baltimore. The company took full advantage of the introduction of pressed glass and its business grew rapidly. Within 25 years, the glass industry was Cambridge's top employer in 1845 and again in 1855, when two companies, New England and Bay State, each employed more than 500 people. Engraver Louis F. Vaupel (1824–1903), who joined New England Glass in 1856, led its creation in the 1860s and 1870s of high-quality cut and engraved products, including very fine paperweights. [7]
The company flourished as one of America's leading glass manufacturers through the Civil War, but the development of inexpensive soda-lime glass in West Virginia brought a deep decline in sales, which dropped from about $500,000 in 1865 to $232,304 in 1876, when the workforce had been reduced to only 200 laborers. In 1877, the company's directors withdrew from active participation, leasing the property to William Libbey, their agent since 1870. [8]
William L. Libbey took over the company in 1878 and renamed it the New England Glass Works, Wm. L. Libbey & Sons Props. In 1888, William's son, Edward Drummond Libbey, moved the company to Toledo, Ohio. [3] [9]
The company's name was changed to The Libbey Glass Company in 1892, and it became part of Libbey-Owens-Ford for a number of years. During this time the company was involved in the production of automotive glass in its partnership with Ford Motor Company. [10] [11] [12] The other part of the partnership — between Edward Libbey and inventor Michael Joseph Owens of the Owens Bottle Machine Company — proved valuable, as Owens developed the first automatic manufacturing methods for light bulbs, which, after adapted to manufacture Libbey's glass products, greatly increased the company's production output. Owens' contributions to the automation methods in the glass and bottling industries spread throughout the United States as the popularity of bottled drinks (and glass products as a whole) became more popular and cheaper to produce in the coming decades. [13] [14]
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Libbey Glass Company was acquired by Owens-Illinois Glass Company in 1935, [15] but in 1993 it was spun off as an independent company. [16] [13]
In April 1993, Owens-Illinois announced that it would sell the Libbey Glass division for an estimated $225 million. The sale was viewed as a negative sign for the industry, as earlier that year the Libbey-Owens-Ford Co. had considered (but ultimately decided against) moving its headquarters to Monroe, Michigan, while Toledo was still struggling to maintain its status as a significant glass exporter. Libbey would be spun off as an independent company, and would make its initial public offering on the New York Stock Exchange in June 1993. [17] [18]
The company marked its 200th anniversary in 2018. In April that year, the Toledo Museum of Art featured a variety of glass artwork from its collection, all produced by Libbey over several decades. The company also hosted an invitation-only event in May that included performances from the Toledo Symphony Orchestra, as well as a public event at the museum. [19]
In March 2019, Libbey announced that it had hired Mike Bauer, the former president of Master Lock Company, to replace Bill Foley as chief executive officer. Foley would retire, but remain as a board chairman. [20] [21]
In June 2020, Libbey announced plans to file for Chapter 11 bankruptcy protection as the result of negative financial effects caused by the COVID-19 pandemic. [22] [23] [24] Prior to the announcement, Libbey had awarded a total of over $3 million in bonuses to its executive staff in an attempt to dissuade them from leaving the company, after having temporarily decreased their pay by 20-25%. This was done in addition to furloughing approximately 50% of its North American workforce and suspending 401(k) matching, among other cost-saving measures. [25] In October 2020, Libbey emerged from Chapter 11. [26] In December 2020, Libbey closed its Shreveport plant putting 450 employees out of work. [27]
Studio glass is the modern use of glass as an artistic medium to produce sculptures or three-dimensional artworks in the fine arts. The glass objects created are intended to make a sculptural or decorative statement, and typically serve no useful function. Though usage varies, the term is properly restricted to glass made as art in small workshops, typically with the personal involvement of the artist who designed the piece. This is in contrast to art glass, made by craftsmen in factories, and glass art, covering the whole range of glass with artistic interest made throughout history. Both art glass and studio glass originate in the 19th century, and the terms compare with studio pottery and art pottery, but in glass the term "studio glass" is mostly used for work made in the period beginning in the 1960s with a major revival in interest in artistic glassmaking.
Owens Corning is an American company that develops and produces insulation, roofing, and fiberglas composites and related materials and products. It is the world's largest manufacturer of fiberglas composites. It was formed in 1935 as a partnership between two major American glassworks, Corning Glass Works and Owens-Illinois. The company employs approximately 19,000 people around the world. Owens Corning has been a Fortune 500 company every year since the list was created in 1955. The Pink Panther acts as the company's mascot and appears in most of their advertisements.
O-I Glass, Inc. is an American company that specializes in container glass products. It is one of the world's leading manufacturers of packaging products, holding the position of largest manufacturer of glass containers in North America, South America, Asia-Pacific and Europe.
Edward Drummond Libbey is regarded as the father of the glass industry in Toledo, Ohio, where he opened the Libbey Glass Company in 1888.
Irving Wightman Colburn was an American inventor and manufacturer.
Libbey-Owens-Ford Company (LOF) was a producer of flat glass for the automotive and building products industries both for original equipment manufacturers and for replacement use. The company's headquarters and main factories were located in Toledo, Ohio, with large float glass plants in Rossford, Ohio, Laurinburg, North Carolina, Ottawa, Illinois, Shreveport, Louisiana, and Lathrop, California. The company was formed in 1930 by the merger of Libbey-Owens's sheet-glass operation with the Edward Ford Plate Glass Company, both located in Toledo.
Michael Joseph Owens was an inventor of machines to automate the production of glass bottles.
Dominick Labino was an American internationally known scientist, inventor, artist and master craftsman in glass. Labino's art works in glass are in the permanent collections of more than 100 museums throughout the world. Labino held over 60 glass-oriented patents in the United States.
The Edward D. Libbey House is a historic house museum at 2008 Scottwood Avenue in Toledo, Ohio. Built in 1895, it was the home of Edward Libbey (1854-1925), a businessman who revolutionized the glass making industry in the United States. Libbey and his wife, Florence Scott Libbey would later establish the Toledo Museum of Art in 1901.
The Fostoria Glass Company was a manufacturer of pressed, blown and hand-molded glassware and tableware. It began operations in Fostoria, Ohio, on December 15, 1887, on land donated by the townspeople. The new company was formed by men from West Virginia who were experienced in the glassmaking business. They started their company in northwest Ohio to take advantage of newly discovered natural gas that was an ideal fuel for glassmaking. Numerous other businesses were also started in the area, and collectively they depleted the natural gas supply. Fuel shortages caused the company to move to Moundsville, West Virginia, in 1891.
Early American molded glass refers to glass functional and decorative objects, such as bottles and dishware, that were manufactured in the United States in the 19th century. The objects were produced by blowing molten glass into a mold, thereby causing the glass to assume the shape and pattern design of the mold. When a plunger rather than blowing is used, as became usual later, the glass is technically called pressed glass. Common blown molded tableware items bearing designs include salt dishes, sugar bowls, creamers, celery stands, decanters, and drinking glasses.
Deming Jarves (1790–1869) was a 19th-century American glass manufacturer in Massachusetts. He has been called the "father of the American glass industry". Jarves joined the glass industry in 1809 when he, with a group of investors, gained control of the window glass company Boston Crown Glass. During the War of 1812, American glass manufacturers lost access to high–quality sand and red lead, which was an essential ingredient for high–quality glass. After the war, British manufacturers began dumping low–priced glass in the United States. This caused many American glass manufacturers, including Boston Crown Glass, to go out of business. In 1818 Jarves and an investor group found the New England Glass Company, where Jarves researched ways to produce red lead using domestic sources. By 1819 he was producing red lead, which enabled the production of better quality glass.
Hartford City Glass Company was among the top three window glass manufacturers in the United States between 1890 and 1899, and continued to be one of the nation's largest after its acquisition. It was also the country's largest manufacturer of chipped glass, with capacity double that of its nearest competitor. The company's works was the first of eight glass plants that existed in Hartford City, Indiana during the Indiana Gas Boom. It became the city's largest manufacturer and employer, peaking with 600 employees.
J. H. Hobbs, Brockunier and Company was one of the largest and best-known manufacturers of glass in the United States during the 19th century. Its products were distributed worldwide. The company is responsible for one of the greatest innovations in American glassmaking—an improved formula for lime glass that enabled American glass manufacturers to produce high-quality glass at a lower cost. The firm also developed talented glassmakers that started glass factories in Ohio and Indiana.
Pairpoint Glass Company is an American glass manufacturer based in Sagamore, Massachusetts. It is currently the oldest operating glass company in the United States.
Indiana Glass Company was an American company that manufactured pressed, blown and hand-molded glassware and tableware for almost 100 years. Predecessors to the company began operations in Dunkirk, Indiana, in 1896 and 1904, when East Central Indiana experienced the Indiana gas boom. The company started in 1907, when a group of investors led by Frank W. Merry formed a company to buy the Dunkirk glass plant that belonged to the bankrupt National Glass Company. National Glass was a trust for glass tableware that originally owned 19 glass factories including the plant in Dunkirk. National Glass went bankrupt in 1907, and its assets were sold in late 1908.
Jack K. Paquette was a historian, author, and retired vice president of Owens–Illinois. He was born in East Toledo, Ohio, and attended the Ohio State University where he earned a Bachelor of Arts degree in journalism in 1949 and a Master of Arts degree in political science in 1951. After graduation he began a 33–year career with Owens–Illinois, one of the largest glass bottle manufacturers in the world. By 1970 he was vice president of the overall company and director of the Corporate Relations Department. He retired in 1984. During his retirement, he wrote six books about life in Northwest Ohio, including four related to glassmaking.
Very few 19th Century glassmaking innovations in the United States happened at the beginning of the century. Only ten glass manufacturers are thought to have been operating in 1800. High-quality glassware was imported from England, and glassmaking knowledge was kept secret. England controlled a key ingredient for producing high–quality glassware and kept its price high—making it difficult for American glass manufacturers to compete price-wise. European glassmakers with the knowledge to produce high–quality glassware were, in some cases, smuggled to the United States. Eventually the American glass industry grew, and the second half of the century saw numerous innovations.
19th century glass categories in the United States include types of glass and decoration methods for glass. A simplified category version appropriate at the beginning of the century is glassware, bottles, and windows. As the century progressed, glass production became more complex and made necessary more categories and subcategories. An 1884 United States government report used glassware, bottles, windows, and plate glass as major categories—although plate glass accounted for only four percent of the value of all glass made.
19th century glassmaking in the United States started slowly with less than a dozen glass factories operating. Much of the nation's better quality glass was imported, and English glassmakers had a monopoly on major ingredients for high–quality glass such as good–quality sand and red lead. A tariff and the War of 1812 added to the difficulties of making glass in America. After the war, English glassmakers began dumping low priced glassware in the United States, which caused some glass works to go out of business. A protective tariff and the ingenuity of Boston businessman Deming Jarves helped revive the domestic glass industry.
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