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Ball Corp. to see 4th quarter decline.

Ball Corp. to see 4th quarter decline

Projected total costs to complete a fixed-price development contract with the U.S. Air Force could result in Ball Corp. recording an estimated fourth quarter pre-tax charge to earnings of $15 million to $18 million, Richard Ringoen, chairman, Ball Corp. announced recently. The charge would result in a quarterly loss.

Ringoen said the charge is a "best current estimate based upon a preliminary review of the facts now available and, as a result, is subject to revision." The contract is for development of a prototype fire control system for an Air Force gunship program.

Additionally, the Ball Corp. chairman said the company's metal container division has received orders for approximately 1.5 billion additional cans from Anheuser-Busch for delivery in 1990. He said price increases for aluminum containers, which were announced in the spring of this year, will be fully implemented in all markets by 1990 and may offset the loss.
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Publication:Modern Brewery Age
Date:Dec 18, 1989
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