Advertisement
Canada markets closed
  • S&P/TSX

    22,167.03
    +59.95 (+0.27%)
     
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • DOW

    39,807.37
    +47.29 (+0.12%)
     
  • CAD/USD

    0.7381
    -0.0006 (-0.07%)
     
  • CRUDE OIL

    83.11
    -0.06 (-0.07%)
     
  • Bitcoin CAD

    95,247.39
    -632.07 (-0.66%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • GOLD FUTURES

    2,254.80
    +16.40 (+0.73%)
     
  • RUSSELL 2000

    2,124.55
    +10.20 (+0.48%)
     
  • 10-Yr Bond

    4.2060
    +0.0100 (+0.24%)
     
  • NASDAQ

    16,379.46
    -20.06 (-0.12%)
     
  • VOLATILITY

    13.01
    0.00 (0.00%)
     
  • FTSE

    7,952.62
    +20.64 (+0.26%)
     
  • NIKKEI 225

    40,369.44
    +201.37 (+0.50%)
     
  • CAD/EUR

    0.6838
    -0.0005 (-0.07%)
     

Wired News - Ball to Form Joint Venture with Platinum Equity

Stock Monitor: Greif Post Earnings Reporting

LONDON, UK / ACCESSWIRE / June 26, 2018 / If you want access to our free research report on Ball Corp. (NYSE: BLL), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=BLL as the Company’s latest news hit the wire. On June 22, 2018, the Company declared that it has inked a joint venture (JV) deal with Los Angeles-based investment firm, Platinum Equity, to form Ball Metalpack, which will be a new packaging Company that will manufacture steel containers for aerosol products, food, household consumables, pet food, nutritional, and other products in the United States. Register today and get access to over 1,000 Free Research Reports by joining our site below:

www.active-investors.com/registration-sg

Active-Investors.com is currently working on the research report for Greif, Inc. (NYSE: GEF), which also belongs to the Consumer Goods sector as the Company Ball. Do not miss out and become a member today for free to access this upcoming report at:

ADVERTISEMENT

www.active-investors.com/registration-sg/?symbol=GEF

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Ball most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=BLL

Ball will contribute its US steel food and aerosol packaging manufacturing assets to the JV, including Canton and Columbus, Ohio; Milwaukee and Deforest, Wisconsin; Chestnut Hill, Tennessee; Horsham, Pennsylvania; Springdale, Arkansas; and Oakdale, California.

JV Details

  • Platinum Equity will own 51% of Ball Metalpack and Ball will own the remaining 49%.

  • Ball will receive more than $600 million in pre-tax proceeds from the transaction, and will retain a 49% interest in Ball Metalpack, for a total value of approximately $675 million.

  • Jim Peterson, who currently manages tinplate steel assets, will be the Chief Executive Officer (CEO) of the JV.

  • The Findlay, Ball’s Ohio facility, will produce two-piece steel food cans for Ball Metalpack under a long-term supply contract.

  • Both transactions are expected to close in July 2018, with approximately 1,300 employees transferring from Ball to the JV.

  • Ball will continue to wholly own and operate its aluminum aerosol packaging facilities in the US, Canada, Europe, India, and Mexico; and its steel aerosol facilities in Argentina, as well as the Findlay, Ohio, metal packaging facility, which largely produces aluminum beverage containers.

  • The Company’s global aluminum aerosol and Argentine tinplate steel aerosol businesses will be led by Stan Platek, Vice President and General Manager, and its financial results will be reported in the ‘Other non-reportable segment’.

Half of the Proceeds from the Sale will be Used to Repurchase Stock

John A. Hayes, Chairman, President, and CEO of Ball, stated that the upfront cash proceeds and the Company’s retained stake in the JV will benefit Ball’s shareholders. This agreement enhances the Company’s ability to immediately return additional value to shareholders via share repurchases, reduce Ball’s leverage, and grow EVA dollars. Hayes added that more than half of the proceeds will be used to repurchase stock, increasing the 2018 share buyback to a new range of $675 million by year-end. Ball’s 2019 financial goals of $2 billion of comparable EBITDA and free cash flow in excess of $1 billion remain unchanged, although they will be slightly more challenging to achieve following the sale of these assets and its related earnings and cash flow.

About Platinum Equity

Established in 1995, Platinum Equity is a global M&A&O® firm specialized in mergers, acquisitions, and operations of companies that provide mission-critical products, services, and solutions in diverse industries. It offers deep in-house resources and flexible acquisition solutions to sellers worldwide.

About Ball Corp.

Founded in 1880 and headquartered in Broomfield, Colorado, Ball supplies innovative, sustainable packaging solutions for beverage, food, and household products customers, as well as aerospace and other technologies and services primarily for the US government.

Stock Performance Snapshot

June 25, 2018 - At Monday’s closing bell, Ball’s stock slightly climbed 0.03%, ending the trading session at $35.92.

Volume traded for the day: 3.09 million shares, which was above the 3-month average volume of 2.75 million shares.

After yesterday’s close, Ball’s market cap was at $12.48 billion.

Price to Earnings (P/E) ratio was at 24.84.

The stock has a dividend yield of 1.11%.

The stock is part of the Consumer Goods sector, categorized under the Packaging & Containers industry.

Active-Investors:

Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@active-investors.com
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia

SOURCE: Active-Investors