Ball Announces Plans to Build Beverage Can Plant in India
November 08 2007 - 11:30AM
PR Newswire (US)
BROOMFIELD, Colo., Nov. 8 /PRNewswire-FirstCall/ -- Ball
Corporation (NYSE:BLL) announced today that it plans to build a
beverage can manufacturing plant in India. The facility, which is
expected to be located near Aurangabad in the state of Maharashtra,
will be positioned strategically to supply the two-piece beverage
can needs for the majority of existing and currently planned
beverage can filling lines in India. Application procedures with
the proper governmental agencies are in the process of being
completed, and the first commercial cans are expected to be
produced by mid-2009. "India is one of the largest potential
beverage can markets in the world and we have long had an interest
in doing business there," said R. David Hoover, chairman, president
and chief executive officer. "Our activities in India will be
managed by our wholly owned subsidiary, Ball Packaging Europe."
John A. Hayes, president, Ball Packaging Europe, said, "Many of our
existing and potential customers are making significant investments
in India, and we believe that now is the right time for us to
invest there as well. Ball and its licensees have been exporting
cans to India for several years to help develop the market and to
serve customers as various beverage filling facilities have become
operational." Hayes said the Ball plant will begin operation with
one manufacturing line able to produce approximately 600 million
cans annually. Ball Corporation is a supplier of high-quality metal
and plastic packaging products for beverage, food and household
customers, and of aerospace and other technologies and services,
primarily for the U.S. government. Ball Corporation and its
subsidiaries employ more than 15,500 people worldwide and reported
2006 sales of $6.6 billion. Forward-Looking Statements This release
contains "forward-looking" statements concerning future events and
financial performance. Words such as "expects," "anticipates,"
"estimates" and similar expressions are intended to identify
forward-looking statements. Such statements are subject to risks
and uncertainties which could cause actual results to differ
materially from those expressed or implied. 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 risks and uncertainties are summarized in filings
with the Securities and Exchange Commission, including Exhibit 99.2
in our Form 10-K, which are available at our Web site and at
http://www.sec.gov/. Factors that might affect our packaging
segments include fluctuation in product demand and preferences;
availability and cost of raw materials, including recent
significant increases in resin, steel, aluminum and energy costs,
and the ability to pass such increases on to customers; competitive
packaging availability, pricing and substitution; changes in
climate and weather; crop yields; competitive activity; failure to
achieve anticipated productivity improvements or production cost
reductions, including our beverage can end project; mandatory
deposit or other restrictive packaging laws; changes in major
customer or supplier contracts or loss of a major customer or
supplier; and changes in foreign exchange rates, tax rates and
activities of foreign subsidiaries. Factors that might affect our
aerospace segment include: funding, authorization, availability and
returns of government and commercial contracts; and delays,
extensions and technical uncertainties affecting segment contracts.
Factors that might affect the company as a whole include those
listed plus: accounting changes; successful or unsuccessful
acquisitions, joint ventures or divestitures; integration of
recently acquired businesses; regulatory action or laws including
tax, environmental and workplace safety; governmental
investigations; technological developments and innovations;
goodwill impairment; antitrust, patent and other litigation;
strikes; labor cost changes; rates of return projected and earned
on assets of the company's defined benefit retirement plans;
pension changes; reduced cash flow; interest rates affecting our
debt; and changes to unaudited results due to statutory audits or
other effects. DATASOURCE: Ball Corporation CONTACT: Investors, Ann
T. Scott, +1-303-460-3537, , or Media, Scott McCarty,
+1-303-460-2103, , both of Ball Corporation Web site:
http://www.ball.com/
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