(BLL) Ball Corporation Strengthens Presence in China

Ball Corporation (BLL) announced its plans to acquire the remaining 65% interest in a joint venture metal beverage can and end plant in Sanshui, China, from Guangdong Jianlibao Group Co., Ltd. Ball has owned 35% of the joint venture plant since 1992. Ball agreed to buy the plant and related assets for approximately $90 million in cash and assumed debt. The transaction, which is expected to close in 2010, will strengthen the company’s presence in the fast growing Chinese market. In the past couple of months the company reiterated its focus on expanding worldwide beverage can business. It recently acquired four low-cost manufacturing plants for  metal beverage packaging  in the U.S from AB InBev. Also, the company expanded its metal beverage packaging pilot manufacturing line at the Ball Technology & Innovation