logo
Plus   Neg
Share
Email

Ball Corp. To Sell Metal Beverage Packaging Facilities In China - Quick Facts

Ball Corp. (BLL) announced an agreement to sell its metal beverage packaging facilities in China to ORG Technology Co. Ltd., a Chinese metal packaging company, for approximately $225 million total transaction consideration. The company said the proceeds from the sale will support its ongoing global growth initiatives and multi-year share repurchase program. The deal will have an immaterial effect on Ball's 2019 goals of $2 billion of comparable EBITDA and free cash flow in excess of $1 billion.

Ball will continue to serve the other parts of Asia from its wholly owned Myanmar facility and joint ventures located in Vietnam, Thailand, South Korea and Taiwan.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Polaris Industries Inc. is recalling certain Ranger and General Utility, as well as All-Terrain vehicles citing risks of crash, the U.S. Consumer Product Safety Commission said in a statement. The Medina, Minnesota-based company has called back about 26,730 units of Model Year 2019 - 2020 Ranger XP 1000 & Model Year 2020 General XP 1000 Utility vehicles. Gilead Sciences Inc. (GILD) said Friday that the European Commission has granted conditional marketing authorization for Veklury or remdesivir as a treatment for SARS-CoV-2 infection, the virus that causes COVID-19. FedEx is asking NFL team Washington Redskins to change its name for its racist connotations. The delivery services company, which is a major sponsor for the team, made the suggestion following increasing pressure from its investors amid the ongoing protests against racial injustice and inequality that arose from the killing of African-American George Floyd.
Follow RTT