Ball Corporation (NYSE: BLL) announced today that it plans to close its plastic packaging manufacturing plant in Brampton, Ontario. The closed operations will be consolidated into the company's other plastic packaging manufacturing facilities in North America. The closure is expected to occur by the end of the third quarter of 2008.
The action will result in an after-tax charge of approximately $5 million, of which approximately $2 million will be recorded in the second quarter of 2008. The remaining costs will be recorded in the second half of 2008 as they are incurred. The closure is expected to result in annual, fixed-cost savings of approximately $4 million beginning in 2009.
The Brampton plant manufactures polypropylene bottles for foods. Ball acquired the facility in 2006 with the company's acquisition of certain North American plastic bottle container assets of Alcan Packaging.
Brampton employees will be provided severance and outplacement services. The plant employs approximately 90 people.
| Investors: Ann T. Scott +1-303-460-3537 ascott@ball.com | Media: Scott McCarty +1-303-460-2103 smccarty@ball.com |
