Owens-Illinois, Inc. OI has acquired 49.7% interest in Empresas Comegua S.A. for $119 million from Fabricación de Máquinas, S.A. de C.V., a wholly owned subsidiary of Vitro, S.A.B. de C.V.Empresas Comegua S.A. is the leading manufacturer of glass containers, which operates two glass manufacturing facilities — one in Costa Rica and another in Guatemala. Empresas caters to Owens-Illinois’ global strategic customers and various segments, including food, soft drinks, beer, spirits and pharmaceuticals.The buyout will help Owens-Illinois expand its presence into new and growing glass markets in Central America, and extend the company’s market presence in the Caribbean. The transaction is expected to be accretive to earnings and cash flow from the first year of the acquisition.Owens-Illinois, Inc. Price, Consensus and EPS Surprise Owens-Illinois, Inc. Price, Consensus and EPS Surprise | Owens-Illinois, Inc. QuoteNotably, Owen-Illinois’ acquisition of Vitro's food and beverage business in 2015 provided the company a competitive edge in the attractive and growing glass segment of the packaging market in Mexico. The company anticipates to realize around $30 million in run-rate cost synergies by 2018 through both procurement savings and operating efficiencies. It should contribute about 50 cents per share in 2018.Moreover, the company’s extension of the 50-50 joint venture (JV) with Constellation Brands, Inc. STZ for an additional ten years (to 2034), and expansion to include an additional furnace will be earnings accretive moving ahead. The JV was formed in 2014 and currently operates a glass container production plant in Nava, Mexico. Per the terms of the original JV agreement, the glass production plant was to be expanded from one furnace to four furnaces by 2018.Share Price PerformanceShares of Owens-Illinois have dropped 27% in the past year compared with the industry’s decline of 26%.Zacks Rank & Key PicksOwens-Illinois currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the same sector include RBC Bearings Incorporated ROLL and Mobile Mini, Inc. MINI. Both stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.RBC Bearings has a long-term earnings growth rate of 5.9%. The company’s shares have been up 28% during the past year.Mobile Mini has a long-term earnings growth rate of 14%. Its shares have rallied 23% in the past year.3 Medical Stocks to Buy NowThe greatest discovery in this century of biology is now at the flashpoint between theory and realization. Billions of dollars in research have poured into it. Companies are already generating revenue, and cures for a variety of deadly diseases are in the pipeline.So are big potential profits for early investors. Zacks has released an updated Special Report that explains this breakthrough and names the best 3 stocks to ride it.See them today for free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Constellation Brands Inc (STZ): Free Stock Analysis Report Mobile Mini, Inc. (MINI): Free Stock Analysis Report Owens-Illinois, Inc. (OI): Free Stock Analysis Report RBC Bearings Incorporated (ROLL): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research