BALL CORPORATION COMPLETES ACQUISITION OF HEEKIN CAN, INC.
MUNCIE, Ind., March 19 /PRNewswire/ -- Ball Corporation (NYSE: BLL) and Heekin Can, Inc. (NASDAQ: HEKN) today completed their merger. Under terms of the merger, which was approved by Heekin stockholders today, each share of Heekin's common stock will be converted into 0.769 shares of Ball common stock. Heekin has approximately 3.27 million shares outstanding. Heekin stockholders will be notified by mail of the procedures for exchanging shares. "Our merger with Heekin is a significant step in furthering our long-term strategy to achieve growth and enhance our presence in the metal food and specialty container business," said Delmont A. Davis, Ball's president and chief executive officer. Ball, which had 1992 sales of $2.2 billion, manufactures metal and glass containers for the beverage and food industries and provides aerospace systems and professional services to government and commercial customers. Heekin is a Cincinnati-based manufacturer of metal containers and sheet products for the food, pet food and aerosol can markets, and will continue its operations as a wholly owned subsidiary of Ball. -0- 3/19/93 /CONTACT: Brad Wilks, 317-747-6165 or 317-282-6198 after hours; or Larry Miller, 317-747-6170 or 317-286-5856 after hours; both of Ball Corporation/ (BLL)
CO: Ball Corporation ST: Indiana IN: PAP ARU SU: TNM
KK -- CL003 -- 7872 03/19/93 11:51 EST
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|Date:||Mar 19, 1993|
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