Packaging

Ball to Acquire Aerocan S.A.S.

Thursday 09. December 2010 - European Acquisition to Expand Company's Metal Packaging Growth Platform

Summary
-Ball has signed a definitive agreement to acquire Aerocan S.A.S. for
approximately euro 221 million inclusive of debt and other
liabilities.
-Aerocan is a leading supplier of aluminum aerosol cans and bottles in
Europe.
-The strategic acquisition broadens Ball’s participation in a growth
market and offers additional opportunities with new and existing
customers.
– Ball expects after-tax returns from the acquired business to exceed
Ball’s return requirements.
-The acquisition is expected to close during the first quarter of
2011, subject to customary closing conditions.
Ball Corporation (NYSE: BLL) announced today that it has signed a definitive agreement with Barclays Private Equity to acquire Aerocan S.A.S., a leading supplier of aluminum aerosol cans and bottles in Europe, for approximately euro 221 million inclusive of debt and other liabilities. The acquisition is expected to close during the first quarter of 2011, subject to customary closing conditions. The company expects the after-tax returns from the acquired business to exceed Ball’s return requirements.
Aerocan manufactures aluminum aerosol cans and bottles, and aluminum slugs used to make them, for customers in the personal care, pharmaceutical, beverage and food industries. It operates three aerosol can manufacturing plants – in Velim, Czech Republic; Bellegarde, France; and Devizes, United Kingdom – and is a 51 percent owner of a joint venture aluminum slug plant in Beaurepaire, France. The four plants employ approximately 480 people.
“This is an important strategic step for our company, as it allows us to enter a growing segment of the metal packaging world where we can broaden our market development efforts into a new customer base,” said John A. Hayes, Ball Corporation’s president and chief operating officer. “Acquiring Aerocan, like the purchase of Neuman Aluminum in the United States earlier this year, is aligned with our strategy of expanding our product portfolio and manufacturing capabilities while leveraging our extensive operational expertise in our global metal packaging businesses.”