US based manufacturer of metal decorative and industrial tins Independent Can (ICC) has signed an agreement to acquire specialty tin division from Ball Corporation, a sustainable packaging solutions provider, for approximately $25m.
Under the terms of the deal, the privately held ICC will acquire Ball’s Steeltin Can Company, which operates a tin manufacturing facility in Baltimore, Maryland.
ICC said in a statement: “This acquisition is a great fit with ICC’s business focus, product lines, and culture, and cements its position as the leader in specialty metal packaging and printing in North America.”
Scheduled to be completed during the fourth quarter of 2016, the sale is part of Ball’s effort to focus on food and aerosol packaging.
Ball food and aerosol packaging COO Jim Peterson said: "We continue to focus on maximizing value and generating positive EVA dollars in our core businesses.”
Employing approximately 50 people, the Baltimore plant manufactures a diverse range of specialty and custom tinplate cans for applications ranging from cosmetics to promotional items.
The facility will complement ICC’s existing four manufacturing facilities and one distribution and logistics hub.
ICC president and board chairman Rick Huether said: "Baltimore is a phenomenal location for can making, and the two companies really complement each other.”
Ball is engaged in providing metal packaging for beverages, foods and household products.
