Ball has owned 35% of the joint venture plant since 1992.
Ball will acquire the plant and related assets for approximately $90m in cash and assumed debt. The company also entered into a long-term supply agreement with Jianlibao. The transaction is expected to close next year, subject to customary regulatory approvals.
“The Sanshui facility is a large, efficient manufacturing plant located in southern China, where we continue to see increasing demand for beverage cans,” said R David Hoover, Ball’s chairman, president and CEO. “We’re very familiar with the plant and its customers, and this investment allows us greater flexibility to serve the growing Chinese market at a significantly lower cost than building a new facility and without adding additional capacity.”
Source: Ball Corporation
© FoodBev Media Ltd 2020
World Dairy Innovation Awards – OPEN FOR EARLY BIRD ENTRIES!
The awards celebrate excellence and innovation across the global dairy industry.
Don’t miss out on having your innovations recognised on a global scale.
Early bird deadline 19 March – enter now!