Ball Corp. (BLL) Sells Pail Assets to BWAY Corp. (BWY)
Ball Corporation (NYSE: BLL) announced today the sale of its plastic pail assets to BWAY Corporation (NYSE: BWY). The sales is valued at approximately $32 million, and is subject to customary closing conditions.
The transaction largely involves the sale of a pail manufacturing plant in Newnan, Ga., which Ball acquired in 2006 as part of its purchase of U.S. Can Corporation. The plant produces injection molded plastic pails and drums for products such as building materials and pool chemicals. It employs approximately 110 people.
The sale is expected to close by the end of October.
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