WESTMINSTER, Colorado., September 21, 2022 /PRNewswire/ — Following its decision in March 2022 to exit the Russian market, Ball Corporation (NYSE: BALL) today announced it has completed the sale of its beverage packaging business in Russia to Arnest Group for $530 million. The buyer, Arnest Group, took over the entire Russian business of Ball Corporation.
“This decision is the result of months of deliberation, during which a solution was proposed that best secures the future of Ball’s colleagues and assets in Russia. We think this is a good result for Ball in these geopolitical circumstances,” he said. Dan FisherPresident and CEO of Ball Corporation.
Arnest is the largest manufacturer of perfumery, cosmetics and household products in aerosol packaging in Russia and Ball’s Aluminum Aerosol division has had the opportunity to work with a world class team at Arnest in the past. The closing of this transaction is not subject to any conditions, and all necessary approvals have been obtained. The sale is not expected to affect Ball’s business outside Russia.
Ball will hold his biennial Investor Day Management Briefing at 9:00 Mountain time on the September 22, 2022. To listen to the live broadcast of the event, use the link below:
About Ball Corporation
Ball Corporation provides customers with innovative sustainable aluminum packaging solutions for beverages, personal care and home products, as well as aerospace and other technologies and services, primarily for the US government. Ball Corporation and its subsidiaries employ 24,300 people worldwide and have 2021 net sales of $13.8 billion. For more information visit www.ball.com or contact us on Facebook or Twitter.
Forward looking statements
This report contains “forward-looking” statements regarding future events and financial performance. Words such as “expects”, “anticipates”, “estimates”, “believes” and similar expressions generally refer to forward-looking statements, which are generally any statements other than statements of historical fact. Such statements are based on current or future expectations and are subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied. As such, you should not place undue reliance on any forward-looking statements and should be read in conjunction with the cautionary statements mentioned below and fully qualify them. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Key factors, risks, and uncertainties that could cause actual results and results to differ are summarized in filings with the Securities and Exchange Commission, including Schedule 99 on our Form 10-K, which are available on our website. website and address www.sec.gov. Additional factors that may affect: a) our packaging segments include production, supply and demand constraints, as well as fluctuations and changes in consumption patterns; availability/cost of raw materials, equipment and logistics; competitive packaging, pricing and replacement; climate and weather changes; adjustment of the occupied area and other production changes, including the launch of new facilities and lines; failure to achieve synergies, performance improvements or cost reductions; unfavorable deposit or packaging laws; consolidation of customers and suppliers; interruptions in food and supply chains; changes in contracts with a major buyer or supplier or loss of a major customer or supplier; inability to go through increased expenses; war, political instability and sanctions, including those relating to the situation in Russia as well as Ukraine and its impact on our supply chain and our ability to operate in Russia and the EMEA region as a whole; changes in foreign exchange or tax rates; as well as tariffs, trade actions or other government actions, including business restrictions and self-isolation orders in any country or jurisdiction, affecting goods manufactured by us or in our supply chain, including imported raw materials; b) our aerospace segment includes financing, authorization, availability and return of government and commercial contracts; as well as delays, extensions and technical uncertainties affecting segment contracts; c) The company as a whole includes the above plus: the extent to which sustainability opportunities arise and can be exploited; top management changes, succession and ability to attract and retain skilled workforce; regulatory actions or matters, including those related to taxes, ESG reporting, competition, the environment, health and safety at work, including the US FDA and other actions or public concerns regarding products spilled into our containers or chemicals or substances used in raw materials or in production. process; technological developments and innovations; ability to manage cyber threats; litigation; strikes; disease; pandemic; change in the cost of labor; inflation; rates of return on assets of the Company’s defined benefit plans; pension changes; uncertainty related to geopolitical events and government policies, including policies, orders and actions related to COVID-19; decrease in cash flow; interest rates affecting our debt; and successful or unsuccessful joint ventures, acquisitions and disposals, including the sale of our Russian business, and their impact on our results of operations and the business as a whole.
SOURCE Ball Corporation