<SEC-DOCUMENT>0001225208-19-005066.txt : 20190311
<SEC-HEADER>0001225208-19-005066.hdr.sgml : 20190311
<ACCEPTANCE-DATETIME>20190311191603
ACCESSION NUMBER:		0001225208-19-005066
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20190307
FILED AS OF DATE:		20190311
DATE AS OF CHANGE:		20190311

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Currarino Moyano Giancarlo
		CENTRAL INDEX KEY:			0001706289

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09576
		FILM NUMBER:		19673606

	MAIL ADDRESS:	
		STREET 1:		ONE MICHAEL OWENS WAY
		STREET 2:		PLAZA ONE
		CITY:			PERRYSBURG
		STATE:			OH
		ZIP:			43551

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			OWENS ILLINOIS INC /DE/
		CENTRAL INDEX KEY:			0000812074
		STANDARD INDUSTRIAL CLASSIFICATION:	GLASS CONTAINERS [3221]
		IRS NUMBER:				222781933
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		ONE MICHAEL OWENS WAY
		CITY:			PERRYSBURG
		STATE:			OH
		ZIP:			43551-2999
		BUSINESS PHONE:		5673365000

	MAIL ADDRESS:	
		STREET 1:		ONE MICHAEL OWENS WAY
		CITY:			PERRYSBURG
		STATE:			OH
		ZIP:			43551-2999

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	OWENS-ILLINOIS INC /DE/
		DATE OF NAME CHANGE:	20100601

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	OWENS ILLINOIS INC /DE/
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	OWENS ILLINOIS HOLDINGS CORP
		DATE OF NAME CHANGE:	19870512
</SEC-HEADER>
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        <issuerName>OWENS ILLINOIS INC /DE/</issuerName>
        <issuerTradingSymbol>OI</issuerTradingSymbol>
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            <rptOwnerName>Currarino Moyano Giancarlo</rptOwnerName>
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            <rptOwnerStreet1>ONE MICHAEL OWENS WAY</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
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            <rptOwnerZipCode>43551</rptOwnerZipCode>
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            <officerTitle>SVP, Chief Tech &amp; SC Officer</officerTitle>
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                </transactionShares>
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                <natureOfOwnership>
                    <value>By 401k</value>
                </natureOfOwnership>
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        </nonDerivativeHolding>
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    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option 03/07/2016 $15.05</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>15.0500</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2019-03-07</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
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            <transactionAmounts>
                <transactionShares>
                    <value>11295.0000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.0000</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2017-03-07</value>
                <footnoteId id="F6"/>
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            <expirationDate>
                <value>2023-03-07</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock (Direct)</value>
                </underlyingSecurityTitle>
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                </underlyingSecurityShares>
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                <sharesOwnedFollowingTransaction>
                    <value>5647.0000</value>
                </sharesOwnedFollowingTransaction>
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                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option 09/01/16 $17.78</value>
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                <value>17.7800</value>
            </conversionOrExercisePrice>
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                <value>2019-03-07</value>
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                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
                <transactionShares>
                    <value>1104.0000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.0000</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2017-09-01</value>
                <footnoteId id="F7"/>
            </exerciseDate>
            <expirationDate>
                <value>2023-09-01</value>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock (Direct)</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1104.0000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
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                <sharesOwnedFollowingTransaction>
                    <value>2208.0000</value>
                </sharesOwnedFollowingTransaction>
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                <directOrIndirectOwnership>
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        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Certain restricted stock units granted for the 2016-2018 grant period vest in the form of common stock based upon the Issuer's performance against certain strategic objective goals. On March 7, 2019, the Compensation Committee of the Issuer's Board of Directors determined that the strategic objective goals had been met, resulting in the vesting of these shares.</footnote>
        <footnote id="F2">The restricted stock units vest in four equal annual installments beginning on the first anniversary of the grant date.</footnote>
        <footnote id="F3">The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $19.89 to $20.24, inclusive. The reporting person undertakes to provide the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.</footnote>
        <footnote id="F4">The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $19.70 to $19.895, inclusive. The reporting person undertakes to provide the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.</footnote>
        <footnote id="F5">The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $19.44 to $19.64, inclusive. The reporting person undertakes to provide the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.</footnote>
        <footnote id="F6">The options become exercisable in annual 25% increments beginning on the first anniversary of the grant date, March 7, 2017.</footnote>
        <footnote id="F7">The options become exercisable in annual 25% increments beginning on the first anniversary of the grant date, September 1, 2017.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/Mary Beth Wilkinson, attorney-in-fact</signatureName>
        <signatureDate>2019-03-11</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</SEC-DOCUMENT>
