AB InBev has recently been selling businesses to repay the massive debt burden it built up last year to pay for the $52bn takeover that formed it. It has said the plants make soft drinks cans and lids, and would allow its remaining packaging business to focus on beer cans.
AB InBev chief executive, Carlos Brito, said the sale was, “another step in our deleveraging programme, allowing us to rationalise capital while retaining those facilities that remain most relevant to our beer business”.
Ball expects the acquisitions to contribute some $774m in revenues each year after the deal is completed in late 2009 or early 2010, subject to regulatory approval.
Ball president and chief executive, R David Hoover, said the acquisitions fitted into the firm’s global growth strategy. “These are well maintained, high-volume manufacturing assets that are run by very skilled, experienced can and end makers,” he said.
Ball has promised to offer employment to the 635 active employees of the plants in Fort Atkinson, Wisconsin; Columbus, Ohio; Rome, Georgia and Gainesville, Florida. The plants will continue to supply Anheuser-Busch with metal drink cans and lids.
Source: Ball Corporation
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