A record net profit was achieved by...

A record net profit was achieved by Toledo, Ohio-based Owens-Illinois Inc. in 1986 as income rose 15%, despite slightly lower revenue. Basic businesses were strong throughout the year, a spokesman said. Lower fourth-quarter earnings largely resulted from a swing of more than $6 million in the federal investment tax credit, including the full year effect of the new tax law and reduced net gains from divestitures, capacity adjustments, and the sale of surplus property, he added.