Continued gains in South America and Europe offset by headwinds in North America and Asia Pacific were reported by O-I in its results for Q3 ending 30 September 2014. Commenting on the results, company Chairman and CEO Al Stroucken said: "South America performed well in the quarter on higher sales and better productivity leading to a 45% increase in profitability year-over-year. Europe also turned in strong results, despite a decline in shipments. This can be attributed largely to savings generated through our European asset optimisation programme. In Asia Pacific, we adjusted our capacity in Australia to better match reduced levels of wine exports. N America was clearly impacted by the continued volume decline of major domestic beer brands. This was exacerbated by lower productivity at our N America facilities, which we are addressing with great focus." Net sales in Q3 were US$ 1.7BN, down 2% from the prior year Q3. Price was up approximately 1% on a global basis. The company realised price increases in all regions except Europe, which was expected given competitive pressures.
