Ball Corporation, following the March, 2022 decision to divest from the Russian market, has announced that it has completed the sale of its beverage packaging business in Russia to Arnest Group for USD 530 million.
“This decision is the result of many months of consideration, delivering a solution that best secures the future of Ball’s colleagues and assets in Russia. We believe this is a sound outcome for Ball in these geo-political circumstances,” said Dan Fisher, president and CEO Ball Corporation.
Arnest is the largest manufacturer of perfume, cosmetic and household products in aerosol packaging in Russia and Ball’s Aluminum Aerosol division has had the opportunity to work with the world class team at Arnest in the past. The closing of this transaction is not subject to any conditions, and all required approvals have been obtained. The sale is not expected to impact Ball’s businesses outside of Russia.
Ball Corporation hosted its Biennial Investor Day Management Briefing, at 9:00 AM Mountain time on September 22, 2022.
Ball Corporation supplies innovative, sustainable aluminum packaging solutions for beverage, personal care and household products for customers, as well as aerospace and other technologies and services primarily for the U.S. government. Ball Corporation and its subsidiaries employ 24,300 people worldwide and reported 2021 net sales of USD 13.8 billion.
On other news, Ball Corporation and Boomerang Water LLC, a leader in sustainable water bottling technology, announced an alliance to bring consumers a sustainable way to stay hydrated. Ball Corporation will provide its aluminum bottles for the Boomerang Bottling System, a cutting edge technology that offers the convenience of bottled water in a sustainable package while limiting the environmental impact. Boomerang’s Bottling System washes, rinses, filters, fills and caps fresh water in refillable, returnable and recyclable Ball aluminum bottles, therefore eliminating the waste and carbon emissions produced by manufacturing and transporting traditional, disposable bottles.