UPDATE 1-Owens Illinois buys Brazil glassmaker for $603 mln
* Expands its Brazilian capacity by 50 pct
* Boost regional net sales about $200 mln
HOUSTON, Sept 1 (Reuters) - Owens Illinois Inc (OI.N) said it bought Brazilian glass container producer Companhia Industrial de Vidros (CIV) for $603 million in an all-cash deal that would expand its capacity in that country by 50 percent.
The acquisition includes two plants that together employ about 1,300 people, the Perrysburg, Ohio-based company said.
The purchase price includes future tax benefits with an estimated present value of $140 million. These tax benefits include federal and state incentives for development in Brazil's northeastern region, Owens Illinois said.
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