BROOMFIELD, Colo., March 11, 2020 /PRNewswire/ -- Ball
Corporation (NYSE:BLL) today entered into a purchase agreement to
acquire Tubex Industria E Comercio de Embalagens Ltda, an aluminum
aerosol packaging business with a plant near Sao Paolo,
Brazil, along with associated
contracts and other related assets for $80
million, plus a potential earn out. Closing is subject
to customary closing conditions.
The Sao Paolo-area plant includes eight extruded aluminum
aerosol can lines, which produce personal care packaging for global
and local customers located in Brazil. It employs approximately 300
people.
"As the demand for sustainable aluminum packaging continues to
grow among customers and consumers worldwide, this investment
allows us to broaden our geographic reach and serve this expanding
market as one of the leading aluminum aerosol suppliers in
Brazil," said John A. Hayes, Ball's chairman, president and
chief executive officer.
The plant will become part of Ball's aluminum aerosol packaging
division, and complements Ball's global aluminum aerosol and slug
business in Europe, North America and Asia, led by Stan
Platek, vice president and general manager.
About Ball Corporation
Ball Corporation supplies
innovative, sustainable aluminum packaging solutions for beverage,
personal care and household products customers, as well as
aerospace and other technologies and services primarily for the
U.S. government. Ball Corporation and its subsidiaries employ more
than 18,300 people worldwide and reported 2019 sales
of $11.5 billion. For more information, visit
www.ball.com, or connect with us on Facebook or Twitter.
Forward-Looking Statements
This release
contains "forward-looking" statements concerning future events and
financial performance. Words such as "expects," "anticipates,"
"estimates," "believes," "targets," "likely," "positions" and
similar expressions typically identify forward-looking statements,
which are generally any statements other than statements of
historical fact. Such statements are based on current expectations
or views of the future and are subject to risks and uncertainties,
which could cause actual results or events to differ materially
from those expressed or implied. You should therefore not place
undue reliance upon any forward-looking statements and any such
statements should be read in conjunction with, and, qualified in
their entirety by, the cautionary statements referenced below. The
company undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. Key factors, risks and uncertainties
that could cause actual outcomes and results to be different are
summarized in filings with the Securities and Exchange Commission,
including Exhibit 99 in our Form 10-K, which are available on our
website and at www.sec.gov. Additional factors that might
affect: a) our packaging segments include product capacity, supply,
and demand constraints and fluctuations; availability/cost of raw
materials and logistics; competitive packaging, pricing and
substitution; changes in climate and weather; footprint adjustments
and other manufacturing changes, including the start-up of new
facilities and lines; failure to achieve synergies, productivity
improvements or cost reductions; mandatory deposit or other
restrictive packaging laws; customer and supplier consolidation;
power and supply chain interruptions, including due to disease
outbreaks; potential delays and tariffs related to the U.K's
departure from the EU; changes in major customer or supplier
contracts or a loss of a major customer or supplier; political
instability and sanctions; currency controls; changes in foreign
exchange or tax rates; and tariffs, trade actions, or other
governmental actions in any country affecting goods produced by us
or in our supply chain, including imported raw materials, such as
pursuant to Section 232 of the U.S. Trade Expansion Act of 1962 or
Section 301 of Trade Act of 1974; b) our aerospace segment include
funding, authorization, availability and returns of government and
commercial contracts; and delays, extensions and technical
uncertainties affecting segment contracts; c) the company as a
whole include those listed plus: the extent to which
sustainability-related opportunities arise and can be capitalized
upon; changes in senior management, succession, and the ability to
attract and retain skilled labor; regulatory action or issues
including tax, environmental, health and workplace safety,
including U.S. FDA and other actions or public concerns affecting
products filled in our containers, or chemicals or substances used
in raw materials or in the manufacturing process; technological
developments and innovations; information technology initiatives
and management of cyber-security processes; litigation; strikes;
disease; labor cost changes; rates of return on assets of the
company's defined benefit retirement plans; pension changes;
uncertainties surrounding geopolitical events and governmental
policies both in the U.S. and in other countries, including the
U.S. government elections, budget, sequestration and debt limit;
reduced cash flow; interest rates affecting our debt; and
successful or unsuccessful joint ventures, acquisitions and
divestitures.
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SOURCE Ball Corporation