Ball sells speciality tin facility in US
Ball Corporation has announced an agreement to sell its speciality tin manufacturing facility in Baltimore, Maryland, to US-based Independent Can Company for approximately $25 million. The transaction is expected to close during the fourth quarter of 2016 and the proceeds are subject to customary closing adjustments.
“We continue to focus on maximising value and generating positive EVA dollars in our core businesses,” said Jim Peterson, chief operating officer, food and aerosol packaging. “While parting with dedicated employees is difficult, the Baltimore plant is an ideal complement to ICC’s speciality tin can focused business and this agreement helps Ball to better align with our strategic focus on food and aerosol packaging.”