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BALL CORPORATION ACQUIRES FULL OWNERSHIP IN PLASTIC PACKAGING PARTNERSHIP

 BALL CORPORATION ACQUIRES FULL OWNERSHIP
 IN PLASTIC PACKAGING PARTNERSHIP
 MUNCIE, Ind., July 17 /PRNewswire/ -- Ball Corporation (NYSE: BLL) has acquired Continental Plastics Ventures, Inc.'s 50 percent ownership interest in Plastic Packaging Products Co., a partnership formed in April 1991 when the two companies combined their similar businesses. Continental Plastics Ventures, Inc. is a wholly owned subsidiary of Peter Kiewit Sons' Inc. The purchase price was $6.5 million.
 Plastic Packaging Products Co. currently has headquarters in West Chicago, Ill., and has two manufacturing facilities, one in Muncie, Ind., and the other a leased plant in West Chicago. The company produces high-barrier coextruded plastic roll stock, as well as containers formed from that material for food and juice applications, plus lid stock for bowls and trays.
 All operations of the business will be consolidated in Muncie before the end of the year, according to Delmont A. Davis, president and chief executive officer of Ball. Davis said the estimated costs in connection with the consolidation will result in an after-tax charge to earnings of $3 million, or 12 cents per share, which was recorded in Ball's second quarter.
 "The partnership, which is operating at a profit and is generating good cash flow, is anticipated to achieve considerable operating economies from the facility consolidation," Davis said. The business is expected to have 1992 sales of approximately $35 million.
 Ball Corporation manufactures and markets packaging, industrial and consumer products, and provides aerospace systems and professional services to government and commercial customers. Ball had 1991 sales of $2.3 billion.
 -0- 7/17/92
 /CONTACT: Larry Miller, 317-747-6170, or 317-286-5856, after hours; Brad Wilks, 317-747-6165, or 317-282-6198, after hours, both of Ball Corporation/
 (BLL) CO: Ball Corporation ST: Indiana IN: PAP ARO SU: TNM


SM -- CL006 -- 0096 07/17/92 09:04 EDT
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Publication:PR Newswire
Date:Jul 17, 1992
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