Ball Corp. (BLL) Completes Acquisition of Partners' Interests in Qingdao Plant
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Ball Corporation (NYSE: BLL) announced today it has acquired its partners' 60 percent interests in a former joint venture metal beverage can plant in Qingdao, China, and is building a new, expanded plant in Qingdao to meet customer demand.
Ball expects to report an after tax gain of approximately $6 million in the third quarter of 2011 on its previous ownership interest in the joint venture, subject to the appraisal of the business. The new plant will supply both 330ml and 500ml cans – an increasingly popular size for beer. It is on schedule to start up by the end of 2011.
Ball expects to report an after tax gain of approximately $6 million in the third quarter of 2011 on its previous ownership interest in the joint venture, subject to the appraisal of the business. The new plant will supply both 330ml and 500ml cans – an increasingly popular size for beer. It is on schedule to start up by the end of 2011.
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