Business News

Ball Corporation Announces Sale of Australia-based Ball Solutions Group Pty Ltd.

Wednesday 02. January 2008 - Ball Corporation (NYSE:BLL) announced today the sale of Ball Solutions Group Pty Ltd., to QinetiQ Pty Ltd. Ball Solutions Group Pty Ltd., a subsidiary of Ball Aerospace & Technologies Corp., is based in Canberra, Australia, and provides services primarily to the Australian Department of Defense.

Ball Aerospace has executed a share sale agreement with QinetiQ Pty Ltd, a wholly owned subsidiary of QinetiQ Group plc., to sell Ball Solutions Group Pty Ltd for a total cash consideration of approximately $10.5 million (Aus$12 million). Closing is subject to government approvals and other customary conditions, and is expected to occur during the first quarter of 2008.

“Ball Solutions Group fits well strategically with QinetiQ,” said David L. Taylor, president and chief executive officer of Ball Aerospace. “Almost all of Ball Aerospace’s business is in the United States, and we did not see any long-term benefit in remaining in Australia. We will continue to focus on growing our aerospace business in areas where we have strategic advantage.”

Ball Solutions Group Pty Ltd. employs approximately 150 people primarily in 10 locations in Australia. It has annual revenues of approximately $25 million (Aus$29 million).