Bankrupt cannery owes Ball $46 million
Last Updated: 15:56 October 29, 2013
Allens Inc. in Siloam Springs, Arkansas, said it would continue to operate as usual during the bankruptcy process in a press statement accompanying the federal bankruptcy filing. Ball Corp. spokeswoman Renee Robinson declined to give further details, other than to say that the Broomfield-based company is working with Allens Inc.
Ball Metal Food Container Co. is part of Broomfield-based Ball Corp.'s (NYSE: BLL) Metal Food & Household Products Packaging division.
Ball Corp. expects to release more details pertaining to the bankruptcy in its quarterly earnings report, scheduled for release Wednesday, Robinson said in an email.
Allens Inc. claims to be at least $100 million in debt with 3,627 customers, according to federal bankruptcy court documents. The company said its 1,000 workers will be unaffected by the bankruptcy filing while it works to reorganize. Allens said it plans to sell off its frozen vegetable business, based in Georgia, according to the statement. The company also may sell all or part of its canned vegetable operations.
Ball produces metal and plastic packaging for beverage, food and household products customers. Its subsidiary Ball Aerospace & Technologies Corp. handles aerospace technologies and services projects, primarily for the U.S. government. Worldwide, Ball Corp. employs 15,000 people. The company reported 2012 revenue of more than $8.7 billion.
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