Printer Friendly

BALL CORPORATION WILL INCREASE INVESTMENT IN GROWING CHINESE BEVERAGE CONTAINER INDUSTRY

 BALL CORPORATION WILL INCREASE INVESTMENT
 IN GROWING CHINESE BEVERAGE CONTAINER INDUSTRY
 MUNCIE, Ind., Feb. 24 /PRNewswire/ -- Ball Corporation (NYSE: BLL) today said it would increase its participation in the People's Republic of China metal beverage container industry as a partner in a new joint venture company, FTB Packaging Limited of Hong Kong.
 W.L. Peterson, Ball vice chairman and chief financial officer, said the new joint venture company would be executing management contracts and acquiring equity interests in several existing can plants in China, and would supply management and technical assistance and other services to these plants under long term agreements.
 Ball, through another joint venture company, has been a minority owner in a packaging plant in Guangzhou, China since 1987. The plant was built initially for metal beverage containers, but has been expanded for the production of aerosol and juice cans, plastic bottles and cans for non-carbonated drinks, plus coated or lithographed steel sheet. This highly successful venture has twice been named the best foreign-Sino joint venture in China.
 Peterson said there are 14 existing beverage can plants in China, most of which are either not operating or are producing on a limited basis. "We see considerable opportunity in China," he said. "The total production of beverage cans there in 1991 was just over 1 billion, vs. about 96 billion in the United States. Long-term growth prospects in China are excellent, and with the knowledge of this market we have gained in the past five years, we believe we can benefit from additional participation there, as well as meeting the growing demand for containers in that country."
 The planned metal beverage container manufacturing facilities in Guangdong Province and North China would call for up to a $6 million investment from Ball Corporation, with sales targeted at over a half-billion units by 1993.
 Ball Corporation is a manufacturing company with principal interests in packaging products sold to customers in the food and beverage industries. The company also provides aerospace systems products, professional services and industrial products to government and commercial customers.
 -0- 2/24/92
 /CONTACT: Larry Miller, 317-747-6170 or after hours at 317-286-5856; or Brad Wilks, 317-747-6165 or after hours at 317-282-6198, both of Ball Corporation/
 (BLL) CO: Ball Corporation ST: Indiana IN: PAP ARO SU:


KK -- CL002 -- 1723 02/24/92 08:56 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 24, 1992
Words:386
Previous Article:BIOWHITTAKER ANNOUNCES FIRST QUARTER RESULTS
Next Article:HEALTH CARE LEADERS GATHER TO DISCUSS ROLE OF HMOS IN NATIONAL HEALTH CARE REFORM
Topics:


Related Articles
BALL CORPORATION REPORTS HIGHER FIRST QUARTER SALES; LOWER NET INCOME AND EARNINGS PER SHARE
BALL CORPORATION REPORTS 17.7 PERCENT INCREASE IN FIRST QUARTER EARNINGS AVAILABLE TO COMMON SHAREHOLDERS, EPS OF 33 CENTS VERSUS 31 CENTS IN 1993
BALL CORPORATION REPORTS 29.3 PERCENT INCREASE IN SECOND QUARTER NET EARNINGS FROM CONTINUING OPERATIONS; EARNINGS PER SHARE OF 55 CENTS VERSUS 43...
BALL CORPORATION PLANS TO DOUBLE CAPACITY IN CHINA, ANNOUNCES PLANS TO SPEED UP FASTEST CAN LINE IN CHINA
BALL CORPORATION PLANS TO DOUBLE CAPACITY IN CHINA, ANNOUNCES PLANS TO SPEED UP FASTEST CAN LINE IN CHINA
BALL CORPORATION SIGNS TECHNOLOGY AGREEMENT WITH AUSTRALIAN PARTNER
BALL CORPORATION PROJECTS STRONG FOURTH QUARTER PERFORMANCE; ANNOUNCED DECISION TO RETAIN AEROSPACE AND COMMUNICATIONS BUSINESS
SAINT-GOBAIN AND BALL CORP. TO FORM NEW GLASS CONTAINER COMPANY; AMERICAN NATIONAL CAN TO SELL GLASS ASSETS
BALL CORPORATION AND GROUP SAINT-GOBAIN TO FORM STRATEGIC ALLIANCE IN GLASS CONTAINER MANUFACTURING
BALL CORPORATION AND STANDARD CAN COMPANY ANNOUNCE CAN MAKING JOINT VENTURE IN THAILAND

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters