Ball Corp. has entered into an agreement to sell its plastic packaging, Americas, business to Amcor Ltd. for about $280 million. The proceeds are subject to customary closing adjustments.
The sale of Ball's plastic packaging business includes five U.S. plants that manufacture PET bottles and preforms and polypropylene bottles, as well as associated customer contracts and other related assets.
The transaction is expected to close during the third quarter of the year.
The manufacturing plants are located in Ames, Iowa; Batavia, Ill.; Bellevue, Ohio; Chino, Calif.; and Delran, N.J.; and research and development operations are based in Broomfield and Westminster, Colo.
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