Ball Corporation is planning to invest in the expansion of its manufacturing plant in Velim, Czech Republic, in a bid to cater to increasing demand for its impact extruded aerosol cans in Europe.
As part of the proposed expansion, Ball will equip the Velim facility with a new aerosol can production line. The new line is expected to become operational in the fourth quarter of 2016.
Ball Corporation global metal food and household products packaging chief operating officer James N. Peterson said: "To remain a leader in the metal aerosol packaging industry, we must continue to maximize value in our existing businesses, leverage our expertise, and align with the right customers and markets.
"This investment in Velim, one of our most productive aluminum aerosol plants, will enable us to meet customer and market needs, as well as to continue our focus on developing industry-leading impact extruded innovations."
Ball manufactures both steel and aluminum aerosol packaging that can be filled with a wide range of products.
The company has completed the acquisition of remaining 39.9% stake in Brazilian joint venture (JV) Latapack-Ball Embalagens, bringing its ownership to 100%.
The JV operates four metal beverage packaging manufacturing plants in Tres Rios, Jacarei and Salvador where it produces cans and ends to the Brazilian market.
Ball issued nearly 5.7 million of its common shares to the main joint venture partner, Participaes Industriais do Nordeste, for its controlling ownership in Latapack, equivalent to a 38.1% economic interest in Latapack-Ball.
The company paid around $17.4m in cash to the smaller JV partner, in exchange for their respective interests in the former JV.
