BLL Ball Corp

BROOMFIELD, Colo., April 23 /PRNewswire-FirstCall/ -- Ball Corporation (NYSE:BLL) announced today that it will close its aluminum beverage can manufacturing plant in Kent, Wash., in the third quarter of 2008. A pretax charge of approximately $12 million ($7 million after-tax) will be recorded in the company's second quarter results. On final disposition of the facilities, the closure is expected to be approximately $4 million cash positive inclusive of income tax benefits. The 28-year-old Kent plant is one of Ball's smaller metal beverage can manufacturing facilities. It operates two production lines capable of producing about 1.1 billion, 12-ounce beverage cans per year and employs 111 people. "The viability of the Kent plant in the current market became increasingly unsustainable," said John R. Friedery, senior vice president and president of Ball's metal beverage packaging division, Americas and Asia. Ball acquired the plant in 1998 as part of the acquisition of the metal beverage can assets of Reynolds Metals Company. The equipment from Kent will be redeployed within Ball's worldwide beverage can system where the company can earn a better return on those assets. Ball Corporation is a supplier of high-quality metal and plastic packaging for beverage, food and household products 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 2007 sales of approximately $7.4 billion. Conference Call Details Ball will hold its regular quarterly conference call on the company's results and performance tomorrow at 9 a.m. Mountain Time (11 a.m. Eastern). The North American toll-free number for the call is 800-732-6870. International callers should dial 212-231-2902. Please use the following URL for a Web cast of the live call: http://phx.corporate-ir.net/phoenix.zhtml?p=irol- eventDetails&c=115234&eventID=1808135 For those unable to listen to the live call, a taped replay will be available after the call's conclusion until 1 p.m. Eastern Time on May 1, 2008. To access the replay, call 800-633-8284 (North American callers) or 402-977-9140 (international callers) and use reservation number 21379244. A written transcript of the call will be posted within 48 hours of the call's conclusion to Ball's Web site at http://www.ball.com/ in the investors section under "presentations." 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; changes in senior management; successful or unsuccessful acquisitions, joint ventures or divestitures; integration of recently acquired businesses; regulatory action or laws including tax, environmental, health and workplace safety, including in respect of chemicals or substances used in raw materials or in the manufacturing process; 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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