Ball Corp. acquires parent of plant in Mexico
Last Updated: 15:42 December 14, 2012
Financial terms of the deal were not disclosed between Broomfield-based Ball (NYSE: BLL) and Envases del Plata S.A. de D.V. in Mexico. The San Luis Potosi plant employs about 150 people making aluminum aerosol packaging for personal care and household products sold to customers in North America, Central America and South America, according to a Ball press statement.
The new plant complements Ball's aluminum aerosol and slug business in Europe and its aluminum slug business in North America, the company said. In addition, the new plant is expected to be an outlet for existing Ball technology, which can be used to make existing aluminum packaging more lightweight, the company said.
At the same time, Ball decided not to form a joint venture to combine its operations with those of Envases Del Plata Group's aerosol operations in South America, according to the press statement. Instead, Ball will continue to operate its own aerosol manufacturing plants in San Luis and Buenos Aires, Argentina, the company said.
Ball Corp. and its subsidiaries employ more than 14,500 people worldwide. The company reported 2011 sales of more than $8.6 billion.
More breaking news...
Single-family residential listings decline
Solera sets date for shareholder meeting
EKS&H bolsters services through aquisition
Solera National Bancorp (OTCQB: SLRK), is the holding company for Solera National Bank, which has a mortgage origination