BROOMFIELD, Colo., March 8, 2011 /PRNewswire/ -- Ball Corporation
(NYSE: BLL), announced today it has entered into an agreement with
its joint venture partner Thai Beverage Can Limited (TBC), a 50
percent associated company owned by Berli Jucker Public Company
Limited (SET: BJC.BK), to build a beverage can manufacturing plant
in Vietnam.
The plant will be located in the Tan Uyen district in
Binh Duong province. Ball will
hold an approximately 50 percent economic interest in the joint
venture facility, which is expected to begin production in the
first half of 2012.
"The growth of the middle class in Southeast Asia, and the preference of
consumers there for beverage cans, continue to increase demand for
our containers," said Raymond J.
Seabrook, executive vice president and chief operating
officer, global packaging. "The beverage can market in the region
is projected to grow more than 15 percent annually over the next
several years. We have operated a joint venture beverage can plant
in Thailand with Thai Beverage Can
since 1996, and have worked closely with our partners as we have
expanded into emerging markets. This Vietnam plant fits our long-term strategy to
grow our worldwide beverage can business to meet increasing demand
from our customers."
The one-line plant will have an initial annual production
capacity of 850 million cans and will primarily use equipment
relocated from other Ball facilities. The total value of the joint
venture, including contributed equipment by Ball, is approximately
$45 million. The plant will supply
contracted customers in Vietnam as
well as export beverage cans to adjacent countries, and can be
expanded to meet growing demand.
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
14,500 people worldwide and reported 2010 sales of more than
$7.6 billion. For the latest Ball
news and for other company information, please visit
http://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 on our website 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; integration of
recently acquired businesses; regulatory action or laws including
tax, environmental, health and workplace safety, including U.S. FDA
and other actions affecting products filled in our containers, 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