BROOMFIELD, Colo., May 19, 2014 /PRNewswire/ -- Ball Corporation (NYSE: BLL) today announced plans to build a one-line beverage can manufacturing plant in Myanmar. The plant, located in the Yangon area, will complement Ball's existing operations in Southeast Asia. The most recent was a joint venture plant in Vietnam, which began production in 2012.
"The demand for beverage containers in Southeast Asia is expected to continue to grow significantly over the coming years," said John A. Hayes, chairman, president and chief executive officer. "The Myanmar plant will allow us to bolster our presence in this high-potential market with a relatively small investment, making it an ideal fit as part of our Drive for 10 growth strategy."
"Ball is excited to bring its high-quality packaging and global sustainability practices to the Myanmar market," said Gihan Atapattu, president, Ball Asia Pacific Limited. "Thanks to long-standing relationships, we are able to align the new plant's capacity with the local filling needs of Coca-Cola Pinya Beverages and several other local, regional and multi-national customers."
About Ball Corporation
Ball Corporation supplies innovative, sustainable packaging solutions for beverage, food and household products customers, as well as aerospace and other technologies and services primarily for the U.S. government. Ball Corporation and its subsidiaries employ 14,500 people worldwide and reported 2013 sales of $8.5 billion. For more information, visit www.ball.com, or connect with us on Facebook or Twitter.
This release contains "forward-looking" statements concerning future events and financial performance. Words such as "expects," "anticipates," "estimates" and similar expressions identify forward-looking statements. Such statements are subject to risks and uncertainties, which could cause actual results to differ materially from those expressed or implied. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Key risks and uncertainties are summarized in filings with the Securities and Exchange Commission, including Exhibit 99 in our Form 10-K, which are available on our website and at www.sec.gov. Factors that might affect: a) our packaging segments include product demand fluctuations; availability/cost of raw materials; competitive packaging, pricing and substitution; changes in climate and weather; crop yields; competitive activity; failure to achieve productivity improvements or cost reductions; mandatory deposit or other restrictive packaging laws; changes in major customer or supplier contracts or loss of a major customer or supplier; political instability and sanctions; and changes in foreign exchange or tax rates; b) our aerospace segment include funding, authorization, availability and returns of government and commercial contracts; and delays, extensions and technical uncertainties affecting segment contracts; c) the company as a whole include those listed plus: changes in senior management; successful or unsuccessful acquisitions and divestitures; regulatory action or issues including tax, environmental, health and workplace safety, including U.S. FDA and other actions or public concerns affecting products filled in our containers, or chemicals or substances used in raw materials or in the manufacturing process; technological developments and innovations; litigation; strikes; labor cost changes; rates of return on assets of the company's defined benefit retirement plans; pension changes; uncertainties surrounding the U.S. government budget, sequestration and debt limit; reduced cash flow; ability to achieve cost-out initiatives; interest rates affecting our debt.
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