Ball Corporation has acquired an extra 10.1% economic interest in Latapack-Ball Embalagens, its beverage packaging joint venture, in Brazil, boosting the company's overall ownership in the JV to nearly 60%.
Latapack-Ball operates metal beverage packaging manufacturing plants in Tres Rios, Jacarei and Salvador, Brazil, and is anticipated to have 2010 sales of approximately $360m.
Ball chairman and CEO David Hoover said that the business is experiencing significant growth and the company expects it to contribute to its future success, though the impact on its earnings per share this year will be limited.
Ball also announced that Pedro Henrique Mariani has joined the company as an advisory director.
Pedro Henrique has worked with Ball for many years as a partner in our growing Brazilian joint venture, and his extensive knowledge and experience has been an important part of its success, Hoover said.
Ball Corporation is a supplier of packaging for beverage, food and household products customers, and of aerospace and other technologies and services, primarily for the US government.