{{Short description|American glass company}} {{Infobox company | name = Libbey Incorporated | logo = Libbey,_Inc._logo.jpg | former_name = {{ubl|New England Glass Company|Libbey Glass Company|Libbey-Owens-Ford}} | type = Private | traded_as = | ISIN = US5298981086 | industry = Glassware manufacturing | founded = {{Start date and age|February 6, 1818}} | founder = Edward Drummond Libbey | hq_location = 300 Madison Avenue | hq_location_city = Toledo, Ohio | hq_location_country = United States | num_locations = 7 facilities, including headquarters {{small|(FY 2018)}} | key_people = {{Unbulleted list|Michael P. Bauer (CEO)|Jim Burmeister (COO)|Mike Lindsey (CFO)}} | brands = {{Hlist|Libbey|Crisal|Royal Leerdam|Lunita|Santa Elenita|Pyrorey|Spiegelau|Nachtmann|Viva Scandinavia|Syracuse China|World Tableware|Schonwald Germany|Playground}} | revenue = {{ubl|class=nowrap|{{increase}} US$797.9 million|{{small|(FY 2018) <ref name="2018report">{{Cite web|url=https://s2.q4cdn.com/429446171/files/doc_financials/annual/2018/20965_LibbeyGlass_AR.pdf|title=2018 Annual Report|date=2019-02-27|website=Libbey, Inc.}}</ref>}}}} | operating_income = {{ubl|class=nowrap|{{increase}} US$28.749 million|{{small|(FY 2018) <ref name="2018report"/>}}}} | net_income = {{ubl|class=nowrap|{{decrease}} US(7,956) million|{{small|(FY 2018) <ref name="2018report"/>}}}} | assets = {{ubl|class=nowrap|{{increase}} US$317,668 million|{{small|(FY 2018) <ref name="2018report"/>}}}} | num_employees = 6,083 {{small|(FY 2018) <ref name="2018report"/>}} | website = https://libbey.com }}'''Libbey, Inc.''', (formerly '''Libbey Glass Company''' and '''New England Glass Company''') is a glass production company headquartered in Toledo, Ohio. It was originally founded in 1818 in Cambridge, Massachusetts, as the ''New England Glass Company,'' before relocating to Ohio in 1888 and renaming to ''Libbey Glass Co''. After it was purchased in 1935, it operated as part of the Libbey-Owens-Ford company and as a division of the Owens-Illinois glass company until 1993, when it was separated back into an independent company.<ref>{{Cite web|url=http://www.utoledo.edu/library/canaday/exhibits/oi/OIExhibit/ACityBuiltofGlass.htm|title=A City Built of Glass|website=University of Toledo|archive-url=https://web.archive.org/web/20180522041616/http://www.utoledo.edu/library/canaday/exhibits/oi/OIExhibit/ACityBuiltofGlass.htm|archive-date=2018-05-22|url-status=live|access-date=2019-05-18}}</ref>
The company manufactures a number of glassware products, primarily tableware, drinkware and stemware. Historically, it was also involved in producing other types of glass products, such as automotive glass, glass drinking bottles, and light bulbs.
== History ==
=== New England Glass Company (1818–1892) === left|thumb|Exterior view of the New England Glass Company from the east, c. 1855 The New England Glass Company was originally founded in Cambridge, Massachusetts, by Amos Binney, Edmund Munroe, Daniel Hastings, and Deming Jarves on February 16, 1818. The company produced both blown and pressed glass objects in a variety of colors, which had engraved, cut, etched, and gilded decorations. The firm was one of the first glass companies to use a steam engine to operate its cutting machines, and it built the only oven in the country that could manufacture red lead, a key ingredient in the making of so-called flint glass. By the middle of the nineteenth century, the New England Glass Company was considered one of the leading glasshouses in the United States, best known for its cut and engraved glass.<ref name=":0">{{cite web|url=https://archive.org/details/newenglandglassc00tole|title=The New England Glass Company, 1818-1888|date=1963|publisher=The Toledo Museum of Art|accessdate=10 August 2014}}</ref><ref>{{cite web|url=http://cambridgehistory.org/NE_Glass_history.htm|title=Plain Glass to Artistry: A History of the New England Glass Company|website=Cambridge Historical Society|archive-url=https://web.archive.org/web/20101211113328/http://cambridgehistory.org/NE_Glass_history.htm|archive-date=2010-12-11|url-status=dead|accessdate=2019-05-18}}</ref>
At its start, the company occupied a disused East Cambridge warehouse erected by the recently failed Boston Porcelain and Glass Company. It was fitted with two flint furnaces, 24 steam-operated glass-cutting mills, and a red-lead furnace, which in combination could produce many types of plain, molded, and cut glass.<ref>John Hayward. The New England gazetteer. O. Clapp, 1857.</ref> The company charter permitted it to manufacture "flint and crown glass of all kinds in the towns of Boston and Cambridge." At that time, about 40 glass factories existed in the United States, though most had few employees. Deming Jarves held one key advantage over his competitors in the glass manufacturing business; he held the American monopoly on red lead (litharge), which was essential for the production of fine lead glass. In 1826, however, Jarves left to found the Boston and Sandwich Glass Company.<ref name=":0" /><ref>{{Cite journal|date=1919-07-03|title=How the Bottle-Making Machine Came Into Being|url=https://books.google.com/books?id=uuQ1AQAAMAAJ|journal=Crockery and Glass Journal|publisher=G. Whittemore & Company|volume=90|issue=1|pages=67–70}}</ref>
Through the 1820s, the company exhibited at the American Institute Fair, won a Franklin Institute award for "skill and ingenuity," and established agencies in New York, Philadelphia, and Baltimore. The company took full advantage of the introduction of pressed glass and its business grew rapidly. Within 25 years, the glass industry was Cambridge's top employer in 1845 and again in 1855, when two companies, New England and Bay State, each employed more than 500 people. Engraver Louis F. Vaupel (1824–1903), who joined New England Glass in 1856, led its creation in the 1860s and 1870s of high-quality cut and engraved products, including very fine paperweights.<ref name="Cotton">Laura Cotton. The fancy paperweights of the New England Glass Company. The Magazine Antiques, 1 Oct 2006. Vol.170, Iss.4</ref>
The company flourished as one of America's leading glass manufacturers through the Civil War, but the development of inexpensive soda-lime glass in West Virginia brought a deep decline in sales, which dropped from about $500,000 in 1865 to $232,304 in 1876, when the workforce had been reduced to only 200 laborers. In 1877, the company's directors withdrew from active participation, leasing the property to William Libbey, their agent since 1870.<ref>{{Cite book|url=https://archive.org/details/dramaglass00cogoog|title=The Drama of Glass|last=Field|first=Kate|publisher=Libbey Glass Co.|year=1895}}</ref>
William L. Libbey took over the company in 1878 and renamed it the New England Glass Works, Wm. L. Libbey & Sons Props. In 1888, William's son, Edward Drummond Libbey, moved the company to Toledo, Ohio.<ref name=":0" /><ref>{{Cite book|title=The Graham legacy : Graham-Paige to 1932|last=Keller, Michael E.|isbn=1563114704|location=Puddach, Kentucky|oclc=40750011|year = 1998}}</ref>
=== Libbey Glass Company (1892–1935) === thumb|right|Libbey Glass Works, Toledo, Ohio, 1912 The company's name was changed to The Libbey Glass Company in 1892, and it became part of Libbey-Owens-Ford for a number of years. During this time the company was involved in the production of automotive glass in its partnership with Ford Motor Company.<ref>{{Cite book|title=Glass in northwest Ohio|last=Skrabec, Quentin R.|date=2007|publisher=Arcadia|isbn=978-0738551111|location=Charleston, SC|oclc=124093123}}</ref><ref>{{Cite book|url=https://books.google.com/books?id=y41tpXZEGV4C|title=Edward Drummond Libbey, American glassmaker|last=Skrabec, Quentin R.|date=2011|publisher=McFarland|isbn=9780786485482|location=Jefferson, N.C.|oclc=753968484}}</ref><ref>{{Cite magazine|date=1922-12-16|title=Fifth Annual Report of the Libbey-Owens Sheet Glass Co.|url=https://books.google.com/books?id=Ktoses-w7QYC|magazine=The Glass Worker|publisher=Commoner Publishing Company|volume=42|issue=11|pages=9–10}}</ref> The other part of the partnership — between Edward Libbey and inventor Michael Joseph Owens of the Owens Bottle Machine Company — proved valuable, as Owens developed the first automatic manufacturing methods for light bulbs, which, after adapted to manufacture Libbey's glass products, greatly increased the company's production output. Owens' contributions to the automation methods in the glass and bottling industries spread throughout the United States as the popularity of bottled drinks (and glass products as a whole) became more popular and cheaper to produce in the coming decades.<ref name=":1" /><ref>{{Cite web|url=https://www.utoledo.edu/library/canaday/exhibits/oi/OIExhibit/Owens.htm|title=Owens the Innovator|website=University of Toledo|archive-url=https://web.archive.org/web/20190720152305/http://www.utoledo.edu/library/canaday/exhibits/oi/OIExhibit/Owens.htm|archive-date=2019-07-20}}</ref>
=== Libbey Glass Division, Owens-Illinois (1935–1993) === {{Expand section|date=April 2019}} Libbey Glass Company was acquired by Owens-Illinois Glass Company in 1935,<ref>{{Cite book|title=Libbey Glass, Since 1818: Pictorial History & Collector's Guide|last=Fauster|first=Carl U.|year=1979}}</ref> but in 1993 it was spun off as an independent company.<ref>{{Cite web|url=http://www.ohiohistorycentral.org/w/Libbey_Glass_Company|title=Libbey Glass Company|website=Ohio History Central|access-date=2019-05-18}}</ref><ref name=":1">{{Cite web|url=https://libbey.com/history/|title=Our Story|website=Libbey|date=15 July 2015|archive-url=https://web.archive.org/web/20190518121910/https://libbey.com/history/|archive-date=2019-05-18|url-status=live|access-date=2019-05-18}}</ref>
=== Libbey Inc. (1993–present) === In April 1993, Owens-Illinois announced that it would sell the Libbey Glass division for an estimated $225 million. The sale was viewed as a negative sign for the industry, as earlier that year the Libbey-Owens-Ford Co. had considered (but ultimately decided against) moving its headquarters to Monroe, Michigan, while Toledo was still struggling to maintain its status as a significant glass exporter. Libbey would be spun off as an independent company, and would make its initial public offering on the New York Stock Exchange in June 1993.<ref>{{Cite news|url=https://www.upi.com/Archives/1993/04/23/Owens-Illinois-to-sell-Libbey-glass/5936735537600/|title=Owens-Illinois to sell Libbey glass|date=1993-04-23|work=United Press International|access-date=2019-05-18}}</ref><ref>{{Cite news|url=https://www.upi.com/Archives/1993/06/18/Libbey-announces-initial-stock-offering/2411740376000/|title=Libbey announces initial stock offering|date=1993-06-18|work=United Press International|access-date=2019-05-18|archive-url=https://web.archive.org/web/20190518124037/https://www.upi.com/Archives/1993/06/18/Libbey-announces-initial-stock-offering/2411740376000/|archive-date=2019-05-18|url-status=live}}</ref>
The company marked its 200th anniversary in 2018. In April that year, the Toledo Museum of Art featured a variety of glass artwork from its collection, all produced by Libbey over several decades. The company also hosted an invitation-only event in May that included performances from the Toledo Symphony Orchestra, as well as a public event at the museum.<ref>{{Cite news|url=https://www.toledoblade.com/Art/2018/01/30/Libbey-Inc-celebrates-200-years.html|title=Libbey Inc. celebrates 200 years|last=Gedert|first=Roberta|date=2018-02-01|work=The Blade|access-date=2019-05-18}}</ref>
In March 2019, Libbey announced that it had hired Mike Bauer, the former president of Master Lock Company, to replace Bill Foley as chief executive officer. Foley would retire, but remain as a board chairman.<ref>{{Cite news|url=https://www.toledoblade.com/business/development/2019/03/12/libbey-inc-names-new-ceo-mike-bauer/stories/20190312128|title=Libbey Inc. names new CEO|last=Chavez|first=John|date=2019-03-12|work=Toledo Blade|access-date=2019-07-23|archive-url=https://web.archive.org/web/20190724000659/https://www.toledoblade.com/business/development/2019/03/12/libbey-inc-names-new-ceo-mike-bauer/stories/20190312128|archive-date=2019-07-24|url-status=live}}</ref><ref>{{Cite press release|title=Libbey Announces CEO Transition|url=https://investor.libbey.com/news-and-events/news/news-details/2019/Libbey-Announces-CEO-Transition/default.aspx|date=2019-03-12|access-date=2019-07-23|archive-url=https://web.archive.org/web/20190313061430/https://investor.libbey.com/news-and-events/news/news-details/2019/Libbey-Announces-CEO-Transition/default.aspx|archive-date=2019-03-13|url-status=live}}</ref>
In June 2020, Libbey announced plans to file for Chapter 11 bankruptcy protection as the result of negative financial effects caused by the COVID-19 pandemic.<ref>{{Cite news|date=2020-06-01|title=Libbey Inc. files for bankruptcy|work=The Blade|url=https://www.toledoblade.com/business/development/2020/06/01/libbey-Inc-files-for-bankruptcy-chapter-11/stories/20200601073|access-date=2020-06-01}}</ref><ref>{{Cite news|date=2020-06-01|title=Libbey announces plans to file for bankruptcy|work=WTVG|url=https://www.13abc.com/content/news/Libbey-announces-plans-to-file-for-bankruptcy-570917401.html|access-date=2020-06-01}}</ref><ref>{{Cite news|last=Hill|first=Jeremy|date=2020-06-01|title=Glassware maker Libbey goes bankrupt with bars, restaurants shut|work=Bloomberg|publisher=San Antonio Express-News|url=https://www.expressnews.com/business/article/Glassware-maker-Libbey-goes-bankrupt-with-bars-15308408.php|access-date=2020-06-01}}</ref> Prior to the announcement, Libbey had awarded a total of over $3 million in bonuses to its executive staff in an attempt to dissuade them from leaving the company, after having temporarily decreased their pay by 20–25%. This was done in addition to furloughing approximately 50% of its North American workforce and suspending 401(k) matching, among other cost-saving measures.<ref>{{Cite news|last=Chavez|first=Jon|date=2020-05-26|title=Libbey executives paid more than $3 million in bonuses during pandemic|url=https://www.toledoblade.com/business/2020/05/26/Libbery-executives-paid-more-than-3-million-in-bonuses-during-pandemic/stories/20200526087|access-date=2020-06-01}}</ref> In October 2020, Libbey emerged from Chapter 11.<ref>{{Cite news|url=https://www.13abc.com/2020/10/20/libbey-glass-emerges-from-chapter-11-bankruptcy/ |title=Libbey emerges from Chapter 11 bankruptcy|date=2020-10-20|access-date=2021-12-10}}</ref> In December 2020, Libbey closed its Shreveport plant putting 450 employees out of work.<ref>{{Cite news|url=https://eu.shreveporttimes.com/story/money/business/2020/12/30/shreveports-libbey-glass-plant-say-goodbye/4093248001/|title=Shreveport's Libbey Glass plant reaches the end with its closure|date=2020-12-08|access-date=2021-12-10}}</ref>
== Galleries ==
=== New England Glass Company === <gallery> File:NEGC glassblowing department.jpg|The glassblowing department of the New England Glass Company, c.1855. File:NEGC cutting room.jpg|Glass-cutting room of the New England Glass Company, c. 1855. File:NEGC showroom.jpg|Showroom of the New England Glass Company, c. 1855. File:Glassware (New England Glass Company, Main building), by Centennial Photographic Co. 2.jpg|Display of New England Glass Co., 1876 </gallery>
=== Products === <gallery> File:Sugar bowl MET 2000.509.1;.2a,b.jpg|Sugar bowl and cream pitcher, free-blown glass with applied decoration, 1815–1835 File:Cream pitcher MET DP207360.jpg|Cream pitcher, pressed glass, 1827–35 File:Oil Lamp MET 224272.jpg|Oil Lamp, pressed and free-blown white opaque glass, 1830–1840 File:Ewer LACMA 56.35.182.jpg|New England Glass Company ewer, 1840–1860 File:Kerosene Table Lamp LACMA M.85.32.jpg|Kerosene Table Lamp, ca. 1850 File:Girandole MET ADA5241.jpg|Girandole, cased and cut blown and engraved glass, 1850–1860 File:Seal MET ADA5419.jpg|Seal, 1850–1870 File:Vase with witch ball MET DP208393.jpg|Vase with witch ball, blown glass, 1850–1875 File:Wine Glass MET ADA5501.jpg|Wine glass, blown glass, 1850–80 File:Compote MET DP341291.jpg|Compote, red-cut-to-clear-glass, 1855–70 File:Hat stand MET ADA4988.jpg|Hat stand, free-blown silvered glass, 1855–1875 File:Perfume decanter MET DP704308.jpg|Perfume decanter, green cased over colorless lead glass, 1866–70 File:"Wild Rose" Lily vase MET DP704300.jpg|"Wild Rose" Lily vase, blown glass, ca. 1886 File:Covered jar MET DP208395.jpg|Covered jar, blown Amberina glass, 1883–1888 </gallery>
== References == {{Reflist}}
{{Toledo}}{{Glass makers and brands}} {{Authority control}}
Category:1818 establishments in Massachusetts Category:Companies formerly listed on NYSE American Category:Glassmaking companies of the United States Category:History of Cambridge, Massachusetts Category:Companies based in Toledo, Ohio Category:Manufacturing companies based in Ohio Category:Manufacturing companies established in 1818 Category:Companies that filed for Chapter 11 bankruptcy in 2020