News
Ball completes acquisition of beverage can plant in China
Ball Corporation has completed its acquisition of Guangdong Jianlibao Group Co Ltd’s 65% interest in a joint venture metal beverage can and end plant in Sanshui, China, after obtaining necessary approvals and clearances from the Chinese government. Ball owned 35% of the joint venture plant since 1992.
Ball acquired the plant and related assets for approximately $90m in cash. The company also entered into a long-term supply agreement with Jianlibao and its affiliate, Foshan Sanshui Jianlibao Trading Co Ltd.
Ball expects to report an after-tax gain of approximately $25m in the second quarter of 2010 on its previous ownership interest in the joint venture, subject to the appraisal of the business.
Source: Ball Corporation
See also
Latest news
| |