Officials from Libbey Inc. told shareholders 7 May/09 that the company's overseas operations are likely to trail those in the US as the world goes through "The worst recession in 50 years." John Meier, Libbey's chairman & CE, said at the company's annual shareholders meeting that the global financial crisis brought 32 months of growth to a sudden halt. But, he said, major obstacles facing the company are economic issues outside of its control, including a trailing economic recovery in Europe, Asia, & Latin America. Libbey, which reported a US$ 5.5M loss for 2008 & an additional loss of US$ 27.9M for 1Q/09, has been taking aggressive steps to improve cash flow across its operations to weather the economic storm. It closed its Syracuse China factory in New York as well as a distribution center in California to aid in its efforts, Mr. Meier told shareholders. "
