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KERR COMPLETES SALE OF COMMERCIAL GLASS CONTAINER BUSINESS

 KERR COMPLETES SALE OF COMMERCIAL GLASS CONTAINER BUSINESS
 LOS ANGELES, March 2 /PRNewswire/ -- Kerr Glass Manufacturing Corporation (NYSE: KGM) today announced it has completed the sale of its commercial glass container business to Ball Corporation (NYSE: BLL) for a cash payment of approximately $68 million.
 Roger W. Norian, chairman, president and chief executive officer, stated that the sale was approved at a special meeting of shareholders held today by 82 percent of the outstanding common stock of the company. Following the meeting, the transaction was consummated and proceeds from the sale were used to repay all debt outstanding under the company's revolving credit agreement and ESOP bank loans in the amount of approximately $68 million. Such revolving credit and ESOP bank loan agreements were terminated and the company entered into a new $25 million, two-year secured revolving credit facility to provide for the working capital needs of the company.
 Kerr's two glass container manufacturing facilities located in Plainfield, Ill., and Sand Springs, Okla., were purchased by Ball. The other two glass container facilities located in Santa Ana, Calif., and Dunkirk, Ind., were leased by Ball with options to purchase. Kerr sold to Ball the machinery, equipment and inventory associated with the business.
 Norian said the sale of the glass container business will enable Kerr to focus its resources on its remaining businesses, consisting of plastic packaging, which has grown rapidly in recent years, home canning supplies and metal crowns.
 As a result of the sale, Kerr recorded an after-tax loss of $2,982,000, or 81 cents per common share, which includes both a gain on the sale of assets and reserves for other estimated costs to be incurred in connection with the sale.
 Kerr, headquartered in Los Angeles, is a major producer of plastic packaging products, home canning supplies and metal crowns.
 -0- 3/2/92
 /CONTACT: D. Gordon Strickland, senior vice president-finance and chief financial officer of Kerr, 310-284-2585/
 (KGM BLL) CO: Kerr Glass Manufacturing Corporation; Ball Corporation ST: California, Illinois, Oklahoma, Indiana IN: SU:


GK-TS -- NY007 -- 3754 03/02/92 08:45 EST
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Date:Mar 2, 1992
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