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Ball Corp. to end production at three beverage packaging plants

Published 08/31/2017, 12:36 PM
© Reuters.  Ball Corp. to end production at three beverage packaging plants
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  • Ball Corp . (BLL +1.2%) says it will cease production at its beverage packaging plants in Birmingham, Ala., Chatsworth, Calif., and Longview, Tex., in 2018, resulting in ~$22M in after-tax charges taken mostly during Q3.
  • BLL expects the moves will result in ~$50M in annualized net fixed cost savings in late 2018 and beyond, which will contributes to the $300M plus acquisition synergies it wants to deliver by year-end 2019.
  • BLL also says it will start construction on a new beverage packaging facility in Goodyear, Ariz., to serve the southwestern U.S., with production expected to begin in Q2 2018.
  • Now read: Microsoft (NASDAQ:MSFT) brings Mixer Create out of Beta to take on Amazon (NASDAQ:AMZN)'s Twitch


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