Ball To Cease Production At Danville Steel Aerosol Packaging Manufacturing Plant

(RTTNews) - Ball Corp. (BLL) announced Thursday that it will cease production at the company's Danville, Ill., steel aerosol packaging manufacturing plant during the second half of 2014.

The company stated that it will redeploy the plant's assets to other existing company facilities and will continue to supply the plant's customers.

The Danville plant produces three-piece welded aerosol cans and ends for household products customers. The company stated that it will provide the plant's 47 employees with outplacement services, severance pay and other benefits, in accordance with company policies and the effects bargaining process. Danville employees can apply for open positions within the company.

The firm noted that it will record an after-tax charge of approximately $7 million for this closure, the majority of which will be recorded during the fourth quarter of 2013.