Libbey Inc. (LBY) said Tuesday that it expects its sales and EBITDA, excluding any one-time charges, for the fourth quarter to be significantly lower than its previous guidance of $210.0 million to $220.0 million in sales and EBITDA of $20.5 million to $23.5 million, provided on October 16.
The recent and dramatic slowdown in the foodservice and retail channels, weaknesses in the Mexican peso and declining consumer confidence in all markets are expected to contribute to reduced results during the fourth quarter, Libbey noted. While sales were close to expectations through October they deteriorated quickly in November, the company said.
Libbey also said that it plans to permanently close its Syracuse China ceramic dinnerware factory in Syracuse, New York, as part of its ongoing effort to improve its cost structure and operating efficiency. The closure is currently planned to be complete on or about March 27, 2009. The Syracuse facility currently employs about 275 people.
In another action to reduce costs, Libbey announced that it plans to close its Mira Loma, California glassware distribution center, which employs approximately 30 people, in May 2009 and not renew its lease that expires in June 2009.
The company expects to announce earnings for the fourth quarter and full year of 2008 on February 12.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.