Ball Corp. Acquires Aerosol Can Manufacturer
By Nathan Halverson
FAIRFIELD - Denver-based Ball Corp., which has manufacturing operations in Fairfield, acquired the largest manufacturer of aerosol cans in the United States.
Ball (NYSE: BLL) bought U.S. Can Corp.'s United States and Argentinean operations for about 1.1 million shares of Ball stock and the repayment of $550 million of U.S. Can's debt.
Ball's stock closed at $42.15 Wednesday, up about 10 percent, after the deal was announced late Tuesday. Trading volume of the shares almost tripled on Wednesday compared to daily averages.
Shareholders of U.S. Can will retain ownership of its European operations.
The transaction is expected to be finalized by the end of March, according to a Ball Corp. statement.
U.S. Can also manufactures paint cans, plastic containers and custom cans in 10 plants across the United States and two plants in Argentina. The company employs 2,300 people and had sales of about $600 million in 2004.
"U.S. Can will add to our portfolio of rigid packaging products and provide us a meaningful position in a sizable market," said R. David Hoover, chairman, president and chief executive officer of Ball Corp., in a statement. "Further, we expect to realize certain cost reductions as a result of synergies between U.S. Can's operations and those of our existing packaging business, particularly our metal food container operations."
The Ball plant in Fairfield manufacturers metal beverage containers such as beer cans.
Friday, February 17, 2006
- ► 2007 (799)
- Dixon Looks at Fees Trove
- City Leaders Discuss Future of Travis in Washingto...
- Guittard Chocolate is Sweet on Fairfield
- Tolenas Industrial Park Welcomes Saint-Gobain Cont...
- Upscale Offices Slated Near I-80
- Rundown Downtown House to Become Office, Apartment...
- Milken Institute - Best Cities Index 2005
- New Travis Air Base hotel offers amenities
- Transportation Leaders Finish Crafting Tax Measure...
- Solano Mall Remodeling Set to Begin
- Rio Vista Catches a Breeze
- Sewer Plant Expansion Could Start in Summer
- New Hotel Opens on Travis AFB
- Solano Deals in Advanced Addiction: Wind Energy
- Vacaville Welcomes BJ's Brewhouse
- Solano County Announces Emergency Ride Home Progra...
- Peeking through the glass ceiling - Study examines...
- Capturing the Jobs
- Ball Corp. Acquires Aerosol Can Manufacturer
- Dixon Leaders Paint 2006 as a Banner Year for the ...
- Beckoning Biotech
- Plan for Tax Given Dixon, Vacaville OK
- Plan Offers Regular Transit Riders an Emergency Li...
- $27 Million Water Plant Upgrade
- Council's OK Would Give Flood Protection
- Building a Village
- Edifices Set to be Available for Firms
- Dixon Homes to be Unveiled
- Business Group Endorses Tax
- Things are looking up / Many Bay Area companies pl...
- Adobe Mystery
- Supes Approve Loan to Hospitals
- Solano County expects $34M in bank
- Nut Tree Grand Opening Likely for August
- Harbor Walk Sites Attract Key Retailers
- Downtown Renaissance
- UC Davis UNDERGRADUATE APPLICATIONS UP 6 PERCENT t...
- Manufacturing robust in Sacramento area - The Sacr...
- Travis May Get More C-17s
- Plumbing MD Moves to Solano County
- Suisun Valley's Hidden, Oily Secret
- UCD Clears Hurdle to Build Complex to House 4,350
- Travis AFB's C-5s Receiving tech Upgrades
- Measure C is Paying Off
- New Fairfield Chamber Execs Take Helm, Get Right t...
- Strong sales for Clorox in quarter
- Executive Homes increase in Solano County
- New Fairfield chamber execs take helm, get right t...
- February 4, 2006 Dixon gets back to its railroad ...
- February 5, 2006 Travis AFB's C-5s receiving tec...
- Fairfield boasts Solano County's only Meineke loca...
- $12.5 million tax-exempt loan for NorthBay Healthc...
- Solano County's budget holding up this fiscal year...
- Travis consortium reduced - Solano EDC Continues C...
- Fairfield's Pier 1 Imports to become outlet store
- New Schools Break Ground Next Week
- Job Base Needed to Support New Housing Development...
- Big Goals Ahead for Solano Library Foundation
- Original Mel's to Open Restaurant in Geri-Towne Ma...
- Bridge/Bancor Housing Projects Approved
- Transportation Tax Spending List Gets Board Approv...
- Napa property helps fill out corridor of protected...
- Travis personnel training, preparing for arrival o...
- UC Davis tech center lights up seven new firms
- A 'Permanente' addition to Vacaville's skyline
- Chiron profit jumps sharply
- Toyota Docking in Benicia
- Suisun Council Approves Study of Undeveloped Comme...
- UC Davis Tech Center Lights Up Seven New Firms
- ▼ February (69)
- ► 2005 (627)
- ► 2004 (125)