Ball Corp. To Sell Metal Beverage Packaging Facilities In China - Quick Facts

(RTTNews) - Ball Corp. (BLL) announced an agreement to sell its metal beverage packaging facilities in China to ORG Technology Co. Ltd., a Chinese metal packaging company, for approximately $225 million total transaction consideration. The company said the proceeds from the sale will support its ongoing global growth initiatives and multi-year share repurchase program. The deal will have an immaterial effect on Ball's 2019 goals of $2 billion of comparable EBITDA and free cash flow in excess of $1 billion.

Ball will continue to serve the other parts of Asia from its wholly owned Myanmar facility and joint ventures located in Vietnam, Thailand, South Korea and Taiwan.