Ball Signs Agreement to Buy Aerocan for EUR 221 Million

Ball Corporation (NYSE: BLL) announced today that it has signed a definitive agreement with Barclays Private Equity to acquire Aerocan S.A.S., a leading supplier of aluminum aerosol cans and bottles in Europe, for approximately euro 221 million inclusive of debt and other liabilities.

The acquisition is expected to close during the first quarter of 2011, subject to customary closing conditions. The company expects the after-tax returns from the acquired business to exceed Ball's return requirements.

"This is an important strategic step for our company, as it allows us to enter a growing segment of the metal packaging world where we can broaden our market development efforts into a new customer base," said John A. Hayes, Ball Corporation's president and chief operating officer. "Acquiring Aerocan, like the purchase of Neuman Aluminum in the United States earlier this year, is aligned with our strategy of expanding our product portfolio and manufacturing capabilities while leveraging our extensive operational expertise in our global metal packaging businesses."