Ball increases ownership in Brazilian joint venture
Ball Corporation has bought a further 10.1 per cent stake in its Brazilian beverage packaging joint venture.
The company last week announced it had increased its ownership of Latapack-Ball Embalagens to 60 per cent.
Latapack-Ball is expected to have 2010 sales of approximately US $360 m and operates metal beverage packaging manufacturing plants in Tres Rios, Jacarei and Salvador, Brazil.
"Ball's roots in Brazil reach back more than 15 years, and the Brazilian market has become an increasingly important region for our products and our company," said R. David Hoover, Ball's chairman and chief executive officer. "The business is experiencing significant growth and we expect it to contribute to our future success."
