8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934

March 2, 2007

Date of Report (Date of earliest event reported)

OWENS-ILLINOIS GROUP, INC.

(Exact name of registrant as specified in its charter)

Delaware	33-13061	34-1559348
(State or other jurisdiction	(Commission	(I.R.S. Employer
of incorporation or organization)	File Number)	Identification Number)

One Michael Owens Way
Perrysburg, Ohio	43551-2999
(Address of principal executive offices)	(Zip Code)

(567) 336-5000

(Registrant’s telephone number, including area code)

(Former name or former address, if changed since last report)

Check the appropriate box if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01.           Regulation FD

On March 2, 2007, OI European Group B.V., our indirect wholly owned subsidiary issued a press release announcing that it intends to offer, subject to market and other conditions, 300 million euros aggregate principal amount of senior notes due 2017 in a private offering. A copy of OI European Group B.V.’s press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01.           Financial Statements and Exhibits

(d)           Exhibits.

Exhibit No.	Description
99.1	Press release dated March 2, 2007

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	OWENS-ILLINOIS, INC.
Date: March 2, 2007	By:	/s/ Edward C. White
	Name:	Edward C. White
	Title:	President and
		Chief Financial Officer

EXHIBIT INDEX

Exhibit
No.	Description
99.1	Press Release dated March 2, 2007

EX-99.1

Exhibit 99.1

OI European Group B.V. Announces Proposed Private Offering of 300 Million Euro of Senior Notes

PERRYSBURG, Ohio, March 2, 2007 — OI European Group B.V., an indirect wholly owned subsidiary of Owens-Illinois, Inc. (NYSE: OI), announced that it intends to offer, subject to market and other conditions, 300 million euros aggregate principal amount of senior notes due 2017 in a private offering.

OI European Group B.V. intends to use the net proceeds of the offering to repay borrowings under its existing secured credit agreement.  In May 2007, a subsidiary borrower of Owens-Illinois, Inc., intends to borrow under the secured credit agreement in order to repay all outstanding $300 million of Owens-Illinois, Inc.’s, 8.10% Senior Notes due May 15, 2007.

The notes have not been and will not be registered under the Securities Act of 1933, as amended (the “Act”), and are being offered and sold in the United States only to qualified institutional buyers in reliance on Rule 144A under the Act and to certain non-U.S. persons in transactions outside the United States in reliance on Regulation S under the Act. Prospective purchasers that are qualified institutional buyers are hereby notified that the seller of the notes may be relying on the exemption from the provisions of Section 5 of the Act provided by Rule 144A.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

Forward Looking Statements

This news release contains “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Act.  Forward-looking statements reflect current expectations and projections about future events at the time, and thus involve uncertainty and risk.  It is possible that future financial performance may differ from expectations due to a variety of risks and other factors such as those described in Owens-Illinois, Inc.’s, Form 10-K for the year ended December 31, 2006, filed with the U.S. Securities and Exchange Commission on March 1, 2007. It is not possible to foresee or identify all such factors.  Any forward-looking statements in this news release are based on certain assumptions and analyses made in light of its experience and perception of historical trends, current conditions, expected future developments, and other factors it believes are appropriate in the circumstances.  Forward-looking statements are not a guarantee of future performance and actual results or developments may differ materially from expectations.  While OI continually reviews trends and uncertainties affecting its results of operations and financial condition, OI does not intend to update any particular forward-looking statements contained in this news release.

SOURCE: Owens-Illinois, Inc.

CONTACT: Owens-Illinois, Inc., Corporate Communications, Kelley Yoder, 1-567-336-1388.

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