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Article: Ball to Acquire Partner's Interest in Beverage Packaging Plant in China.
- Article from:
- PR Newswire
- Article date:
- November 9, 2009
CopyrightCOPYRIGHT 2009 PR Newswire Association LLC. 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)
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BROOMFIELD, Colo., Nov. 9 /PRNewswire-FirstCall/ -- Ball Corporation announced today that it has agreed to acquire Guangdong Jianlibao Group Co., Ltd.'s 65 percent interest in a joint venture metal beverage can and end plant in Sanshui, China. Ball has owned 35 percent of the joint venture plant since 1992.
Ball will acquire the plant and related assets for approximately $90 million in cash and assumed debt. The company also entered into a long-term supply agreement with Jianlibao. The transaction is expected to close next year, subject to customary regulatory approvals.
"The Sanshui facility is a large, efficient manufacturing plant located in ...