The next time you toast with a fine libation or cut into a thick juicy steak, check to see if you are holding a Libbey product in your hand. Libbey Inc. (LBY) is a glass and tableware manufacturer with headquarters in Toledo, Ohio operating production plants in the United States, Mexico, Portugal, China, and the Netherlands. They are part of the Housewares and Accessories industry.
Libbey began in 1818 as the New England Glass Company in East Cambridge, Massachusetts. William L. Libbey bought this company in 1878. In 1888, the company moved to Toledo, Ohio due to increased competition in the Massachusetts region. The Northwest Ohio area offered lots of high-quality sand for their glass making needs. In 1892, the company became The Libbey Glass Company. It was after World War II that Libbey stopped handmade glassmaking and converted to automatic high-volume production of their products.
Libbey became a publicly traded corporation in June of 1993. They trade on the NYSE, and have a market capitalization of $239.3M. They have grown due to their many acquisitions and their continued commitment to quality. Libbey services retail, foodservice and industrial clients.
Libbey purchased Syracuse China in 1995. This subsidiary designs, manufactures, and distributes excellent quality ceramic dinnerware. In 1997, Libbey purchased World Tableware. This subsidiary imports and sells metal flatware and hollowware. They also produce ceramic dinnerware and other tabletop products.
In 2002, Libbey bought Traex and Royal Leerdam. Traex, in Wisconsin, designs, manufactures, and distributes plastic items for foodservice. The Royal Leerdam subsidiary in Leerdam, Netherlands is a leading producer and seller of glass stemware to the retail, industrial, and foodservice sectors. Libbey bought Crisal of Portugal in 2005 to open up more of the European market. They manufacture high quality glass tableware at this subsidiary. In 2006, Libbey completed their acquisition of Crisa of Monterrey, Mexico. Crisa is a leading producer of glass tableware for the Mexican and Latin American market.
With a worldwide presence, Libbey has come a long way from their humble New England beginnings. They continue to set the table for future growth through their elegant, high-quality products and smart acquisitions. Their desire is to have their shareholders continually raising their glasses to toast the company’s continuing success.
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