BROOMFIELD, Colo., July 26 /PRNewswire-FirstCall/ --
Key Points
- Ball has acquired the leading
North American maker of aluminum slugs used to make
extruded aerosol cans, beverage
bottles, aluminum collapsible tubes and technical impact
extrusions.
- This strategic acquisition
provides Ball with additional metal forming technology, brings
access to new markets.
- Ball expects the transaction to
be accretive in its first year of operation, and after-tax returns
from the acquired business to exceed Ball's return
requirements.
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Ball Corporation (NYSE: BLL) announced today that it has
acquired Neuman Aluminum, the leading North American manufacturer
of aluminum slugs used to make extruded aerosol cans, beverage
bottles, aluminum collapsible tubes and technical impact
extrusions. The transaction price was not disclosed.
Neuman Aluminum operates plants in Verona, Va., and Sherbrooke, Quebec, which produce aluminum
disks, or slugs, that are converted into premium packaging for
personal care, household, beverage and other products.
"This strategic acquisition is an investment by Ball in a
business that has technology to access new markets and
opportunities to grow Ball's packaging platform," said Raymond J. Seabrook, executive vice president
and chief operating officer, global packaging operations.
Neuman Aluminum had sales of approximately $128 million in 2009. The two plants, which
employ about 180 people, will become part of Ball's metal food and
household products packaging segment.
Ball Corporation is a supplier of high-quality 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
14,000 people worldwide and reported 2009 sales of more than
$7.3 billion. For the latest Ball
news and for other company information, please visit
www.ball.com.
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
www.sec.gov. Factors that might affect our packaging segments
include fluctuation in product demand and preferences; availability
and cost of raw materials; 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; 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 or tax rates.
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; the current global recession
and its effects on liquidity, credit risk, asset values and the
economy; 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 climate change, or
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.
SOURCE Ball Corporation