|
|
Article: Ball To Stop Production At Two Plastic Bottle Plants.
- Article from:
- Investrend
- Article date:
- April 9, 2009
CopyrightCOPYRIGHT 2009 COMTEX News Network, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Apr 09, 2009 (FinancialWire via COMTEX) -- April 9, 2009 (FinancialWire) -- Ball Corp. (NYSE: BLL) said that it will permanently cease manufacturing operations at polyethylene terephthalate plastic packaging plants in Baldwinsville, New York, and Watertown, Wisconsin, and supply customers of those plants from larger Ball facilities.
The company said it will record an after-tax charge of around $14 million as a result of the move, which will be recorded in the company's second quarter results. Cost savings associated with these actions are expected to be approximately $12 million annually beginning in 2010.
Company COO John A. Hayes said the plants are ...