Tubex’s plant, located near Sao Paolo, includes eight extruded aluminium aerosol can lines
Ball has agreed to acquire Tubex aluminium aerosol packaging business (Credit: Gerd Altmann from Pixabay)
Aluminium packaging solutions provider Ball has agreed to acquire Brazilian aluminium aerosol packaging business Tubex Industria E Comercio de Embalagens in a deal valued at around $80m.
Under the purchase agreement, Ball will acquire Tubex’s aluminium aerosol packaging facility near Sao Paolo, as well as associated contracts and other related assets.
The deal, which is subject to customary closing conditions, also includes a potential earn-out payment.
Tubex’s plant produces personal care packaging for global and local customers in Brazil
The Sao Paolo-area plant features eight extruded aluminium aerosol can lines, which involve in the manufacturing of personal care packaging for global and local customers in the country.
Tubex’s aluminium aerosol packaging facility, which employs around 300 people, will be part of Ball’s aluminium aerosol packaging division upon completion of the transaction.
The packaging plant is said to complement Ball’s global aluminium aerosol and slug business in Europe, North America and Asia, which is headed by vice president and general manager Stan Platek.
Ball chairman, president and CEO John Hayes said: “As the demand for sustainable aluminium packaging continues to grow among customers and consumers worldwide, this investment allows us to broaden our geographic reach and serve this expanding market as one of the leading aluminium aerosol suppliers in Brazil.”
In January this year, Ball announced the launch of recyclable and impact-extruded aluminium bottle line as a sustainable alternative to plastic packaging.
Available in various shapes and sizes, the new lightweight Infinity Aluminium Bottle can be personalised for beauty, personal care, food and beverage products.
Ball provides sustainable aluminium packaging solutions for beverage, personal care and household products customers, in addition to aerospace and other technologies and services mainly for the US government.
The company, along with its subsidiaries, employs more than 18,300 people across the world and generated sales of $11.5bn in 2019.